Tango Therapeutics (NASDAQ:TNGX - Get Free Report) had its price objective reduced by equities researchers at B. Riley from $16.00 to $8.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. B. Riley's price target indicates a potential upside of 136.69% from the stock's previous close.
Several other analysts also recently weighed in on the company. HC Wainwright reaffirmed a "buy" rating and set a $13.00 target price on shares of Tango Therapeutics in a research note on Friday. Wedbush upped their price objective on shares of Tango Therapeutics from $11.00 to $13.00 and gave the stock an "outperform" rating in a report on Thursday, August 8th. Guggenheim lowered their target price on shares of Tango Therapeutics from $18.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, Jefferies Financial Group began coverage on shares of Tango Therapeutics in a research report on Wednesday, July 17th. They set a "buy" rating and a $19.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $13.14.
Read Our Latest Research Report on TNGX
Tango Therapeutics Stock Performance
Shares of TNGX traded up $0.43 during mid-day trading on Monday, reaching $3.38. 4,454,156 shares of the company's stock traded hands, compared to its average volume of 929,749. The business's 50-day moving average price is $7.41 and its 200-day moving average price is $8.29. Tango Therapeutics has a 12 month low of $2.70 and a 12 month high of $13.01.
Insider Activity at Tango Therapeutics
In other Tango Therapeutics news, insider Boxer Capital Management, Llc sold 3,080,000 shares of Tango Therapeutics stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $3.14, for a total value of $9,671,200.00. Following the transaction, the insider now owns 3,610,642 shares in the company, valued at approximately $11,337,415.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Tango Therapeutics news, insider Boxer Capital Management, Llc sold 3,080,000 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $3.14, for a total value of $9,671,200.00. Following the completion of the transaction, the insider now directly owns 3,610,642 shares in the company, valued at $11,337,415.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Rock Ventures Iv L.P. Third sold 135,000 shares of the business's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.79, for a total transaction of $1,321,650.00. Following the sale, the insider now owns 17,351,475 shares in the company, valued at $169,870,940.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,965,400 shares of company stock valued at $25,156,782 over the last ninety days. Insiders own 6.30% of the company's stock.
Institutional Trading of Tango Therapeutics
Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asset Management L.P. purchased a new stake in Tango Therapeutics in the 2nd quarter worth about $3,836,000. Vanguard Group Inc. increased its holdings in shares of Tango Therapeutics by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company's stock valued at $24,462,000 after purchasing an additional 101,673 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Tango Therapeutics by 32.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,964 shares of the company's stock worth $230,000 after purchasing an additional 7,128 shares in the last quarter. Quarry LP acquired a new stake in shares of Tango Therapeutics during the second quarter worth approximately $99,000. Finally, Point72 DIFC Ltd purchased a new position in Tango Therapeutics during the second quarter valued at approximately $54,000. Institutional investors and hedge funds own 78.99% of the company's stock.
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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