Tango Therapeutics' (TNGX) Buy Rating Reiterated at HC Wainwright

Tango Therapeutics (NASDAQ:TNGX - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at HC Wainwright in a report released on Friday,Benzinga reports. They currently have a $13.00 price target on the stock. HC Wainwright's price target points to a potential upside of 340.68% from the stock's current price.

A number of other research analysts have also weighed in on TNGX. Jefferies Financial Group initiated coverage on shares of Tango Therapeutics in a research note on Wednesday, July 17th. They issued a "buy" rating and a $19.00 price objective for the company. Guggenheim reduced their price target on Tango Therapeutics from $18.00 to $8.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Wedbush lifted their target price on Tango Therapeutics from $11.00 to $13.00 and gave the company an "outperform" rating in a report on Thursday, August 8th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $14.29.

Tango Therapeutics Trading Up 4.2 %

Shares of TNGX traded up $0.12 during trading hours on Friday, reaching $2.95. The stock had a trading volume of 7,513,642 shares, compared to its average volume of 2,007,313. The firm has a 50-day simple moving average of $7.41 and a 200 day simple moving average of $8.28. Tango Therapeutics has a 12 month low of $2.71 and a 12 month high of $13.01. The company has a market capitalization of $316.06 million, a price-to-earnings ratio of -2.50 and a beta of 0.88.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($0.27) earnings per share for the quarter, topping analysts' consensus estimates of ($0.34) by $0.07. The firm had revenue of $11.61 million for the quarter, compared to the consensus estimate of $8.04 million. Tango Therapeutics had a negative return on equity of 48.38% and a negative net margin of 284.42%. On average, equities analysts forecast that Tango Therapeutics will post -1.27 EPS for the current year.

Insider Activity

In related news, major shareholder Rock Ventures Iv L.P. Third sold 175,000 shares of the business's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $11.60, for a total transaction of $2,030,000.00. Following the transaction, the insider now owns 17,001,475 shares in the company, valued at $197,217,110. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Boxer Capital Management, Llc sold 633,000 shares of the business's stock in a transaction on Friday, October 25th. The stock was sold at an average price of $6.87, for a total value of $4,348,710.00. Following the completion of the transaction, the insider now owns 6,690,642 shares in the company, valued at $45,964,710.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Rock Ventures Iv L.P. Third sold 175,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $11.60, for a total transaction of $2,030,000.00. Following the transaction, the insider now owns 17,001,475 shares in the company, valued at approximately $197,217,110. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,965,400 shares of company stock valued at $25,156,782. Company insiders own 6.30% of the company's stock.

Institutional Investors Weigh In On Tango Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. bought a new position in shares of Tango Therapeutics in the second quarter worth about $3,836,000. Vanguard Group Inc. boosted its position in shares of Tango Therapeutics by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company's stock valued at $24,462,000 after acquiring an additional 101,673 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings 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 valued at $230,000 after purchasing an additional 7,128 shares in the last quarter. Quarry LP bought a new stake in Tango Therapeutics in the second quarter worth $99,000. Finally, Point72 DIFC Ltd bought a new stake in Tango Therapeutics in the second quarter worth $54,000. Hedge funds and other institutional investors own 78.99% of the company's stock.

Tango Therapeutics Company Profile

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.