Tango Therapeutics (NASDAQ:TNGX) Receives Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Tango Therapeutics (NASDAQ:TNGX - Free Report) in a report published on Monday, Benzinga reports. The firm currently has a $13.00 price target on the stock.

Several other equities research analysts also recently weighed in on TNGX. Wedbush increased their price objective on Tango Therapeutics from $11.00 to $13.00 and gave the company an "outperform" rating in a report on Thursday, August 8th. Cantor Fitzgerald reissued an "overweight" rating on shares of Tango Therapeutics in a report on Tuesday, July 9th. Finally, Jefferies Financial Group began coverage on Tango Therapeutics in a report on Wednesday, July 17th. They issued a "buy" rating and a $19.00 price objective for the company. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tango Therapeutics has a consensus rating of "Buy" and a consensus target price of $15.14.

Tango Therapeutics Stock Down 0.2 %

Tango Therapeutics stock traded down $0.01 during mid-day trading on Monday, hitting $5.92. The company had a trading volume of 1,567,930 shares, compared to its average volume of 773,404. The stock has a market cap of $632.53 million, a price-to-earnings ratio of -5.25 and a beta of 0.81. Tango Therapeutics has a 1 year low of $5.83 and a 1 year high of $13.01. The business has a fifty day moving average of $8.70 and a 200 day moving average of $8.48.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.10. The company had revenue of $19.88 million for the quarter, compared to analyst estimates of $7.39 million. Tango Therapeutics had a negative net margin of 274.04% and a negative return on equity of 44.73%. Equities analysts anticipate that Tango Therapeutics will post -1.27 earnings per share for the current year.

Insider Buying and Selling at Tango Therapeutics

In other Tango Therapeutics news, insider Boxer Capital Management, Llc sold 633,000 shares of the firm'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 sale, the insider now owns 6,690,642 shares of the company's stock, valued at approximately $45,964,710.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Boxer Capital Management, Llc sold 633,000 shares of the firm'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. 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 the SEC website. Also, major shareholder Rock Ventures Iv L.P. Third sold 175,000 shares of the firm's stock in a transaction on Friday, August 30th. The shares were sold at an average price of $11.60, for a total value of $2,030,000.00. Following the completion of the transaction, the insider now owns 17,001,475 shares of the company's stock, valued at approximately $197,217,110. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,925,400 shares of company stock valued at $15,877,582. 6.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in shares of Tango Therapeutics by 12.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company's stock valued at $102,000 after buying an additional 1,426 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Tango Therapeutics by 8.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,511 shares of the company's stock worth $253,000 after purchasing an additional 2,218 shares in the last quarter. SG Americas Securities LLC increased its position in Tango Therapeutics by 16.0% during the 1st quarter. SG Americas Securities LLC now owns 30,429 shares of the company's stock worth $242,000 after purchasing an additional 4,203 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Tango Therapeutics during the 2nd quarter worth about $54,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Tango Therapeutics by 32.6% during the 1st 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. 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.