Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives Consensus Recommendation of “Buy” from Brokerages

Tango Therapeutics, Inc. (NASDAQ:TNGXGet Free Report) has been assigned a consensus recommendation of “Buy” from the seven research firms that are covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $14.17.

Several equities analysts have issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Tango Therapeutics in a research note on Thursday, April 4th. They issued an “overweight” rating on the stock. HC Wainwright decreased their target price on shares of Tango Therapeutics from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday. Wedbush decreased their target price on shares of Tango Therapeutics from $18.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. Barclays decreased their target price on shares of Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, May 24th. Finally, Piper Sandler initiated coverage on shares of Tango Therapeutics in a research report on Monday, February 12th. They set an “overweight” rating and a $18.00 target price on the stock.

View Our Latest Report on TNGX

Insider Buying and Selling

In related news, insider Mva Investors, Llc sold 75,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $7.43, for a total value of $557,250.00. Following the sale, the insider now directly owns 618,524 shares in the company, valued at approximately $4,595,633.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

Hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Tango Therapeutics by 205.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 367,357 shares of the company’s stock worth $4,136,000 after purchasing an additional 247,234 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Tango Therapeutics during the 3rd quarter worth about $653,000. FMR LLC boosted its stake in shares of Tango Therapeutics by 12.3% during the 3rd quarter. FMR LLC now owns 11,645,741 shares of the company’s stock worth $131,131,000 after purchasing an additional 1,276,945 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Tango Therapeutics by 47.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,754,852 shares of the company’s stock worth $19,760,000 after purchasing an additional 564,971 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of Tango Therapeutics by 421.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,793 shares of the company’s stock worth $117,000 after purchasing an additional 9,530 shares during the last quarter. 78.99% of the stock is owned by institutional investors and hedge funds.

Tango Therapeutics Price Performance

Shares of Tango Therapeutics stock opened at $6.66 on Friday. The firm’s fifty day simple moving average is $7.49 and its 200-day simple moving average is $9.23. The stock has a market capitalization of $711.62 million, a price-to-earnings ratio of -5.89 and a beta of 0.84. Tango Therapeutics has a 12 month low of $2.47 and a 12 month high of $13.03.

Tango Therapeutics (NASDAQ:TNGXGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.04). The firm had revenue of $6.47 million during the quarter, compared to analyst estimates of $7.13 million. Tango Therapeutics had a negative net margin of 299.88% and a negative return on equity of 44.35%. Analysts anticipate that Tango Therapeutics will post -1.28 earnings per share for the current year.

Tango Therapeutics Company Profile

(Get Free Report

Tango Therapeutics, Inc, a biotechnology company, discovers and develops drugs for the treatment of cancer. Its lead program is TNG908, a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 that is being developed as a treatment for cancers with methylthioadenosine phosphorylase deletions.

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Analyst Recommendations for Tango Therapeutics (NASDAQ:TNGX)

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