Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives Consensus Recommendation of "Buy" from Analysts

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) have received an average rating of "Buy" from the eight analysts that are covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $13.14.

Several research firms have recently weighed in on TNGX. HC Wainwright reissued a "buy" rating and issued a $13.00 target price on shares of Tango Therapeutics in a research report on Friday, November 8th. Guggenheim cut 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, November 7th. B. Riley decreased their target price on Tango Therapeutics from $16.00 to $8.00 and set a "buy" rating for the company in a research report on Monday, November 11th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Tango Therapeutics in a report on Thursday, December 5th.

Insider Transactions at Tango Therapeutics

In other news, Director Mace Rothenberg purchased 10,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average price of $3.78 per share, with a total value of $37,800.00. Following the purchase, the director now owns 31,250 shares in the company, valued at $118,125. This represents a 47.06 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Boxer Capital Management, Llc sold 3,080,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $3.14, for a total transaction of $9,671,200.00. Following the transaction, the insider now directly owns 3,610,642 shares in the company, valued at approximately $11,337,415.88. The trade was a 46.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,405,400 shares of company stock valued at $19,135,882. 6.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TNGX. State Street Corp increased its position in Tango Therapeutics by 26.8% during the third quarter. State Street Corp now owns 2,318,208 shares of the company's stock worth $17,850,000 after buying an additional 489,949 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Tango Therapeutics by 11.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,368,262 shares of the company's stock valued at $10,538,000 after acquiring an additional 142,710 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Tango Therapeutics by 18.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 487,237 shares of the company's stock worth $3,752,000 after purchasing an additional 76,540 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Tango Therapeutics during the second quarter worth approximately $3,836,000. Finally, Dimensional Fund Advisors LP grew its holdings in Tango Therapeutics by 42.5% during the second quarter. Dimensional Fund Advisors LP now owns 335,913 shares of the company's stock valued at $2,882,000 after purchasing an additional 100,257 shares during the last quarter. Institutional investors own 78.99% of the company's stock.

Tango Therapeutics Stock Performance

TNGX traded up $0.10 during trading on Tuesday, reaching $3.31. The company had a trading volume of 1,078,351 shares, compared to its average volume of 1,010,022. The firm's 50-day simple moving average is $5.11 and its 200 day simple moving average is $7.72. The company has a market cap of $355.55 million, a price-to-earnings ratio of -2.81 and a beta of 0.75. Tango Therapeutics has a 12-month low of $2.70 and a 12-month high of $13.01.

About Tango Therapeutics

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.