Tango Therapeutics, Inc. (NASDAQ:TNGX) Given Average Recommendation of "Buy" by Analysts

Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) has been assigned a consensus rating of "Buy" from the eight brokerages that are currently covering the company, MarketBeat reports. Eight research analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $13.14.

A number of equities analysts have recently issued reports on TNGX shares. B. Riley cut their price objective on shares of Tango Therapeutics from $16.00 to $8.00 and set a "buy" rating on the stock in a research report on Monday. Wedbush raised 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. Guggenheim lowered 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, November 7th. Finally, HC Wainwright reiterated a "buy" rating and issued a $13.00 target price on shares of Tango Therapeutics in a research note on Friday, November 8th.

Tango Therapeutics Trading Down 1.8 %

NASDAQ:TNGX traded down $0.07 during trading hours on Friday, hitting $3.85. 3,627,805 shares of the company were exchanged, compared to its average volume of 984,459. The stock has a market capitalization of $413.57 million, a price-to-earnings ratio of -3.18 and a beta of 0.88. The company has a fifty day simple moving average of $6.79 and a 200 day simple moving average of $8.17. Tango Therapeutics has a one year low of $2.70 and a one year high of $13.01.

Insider Buying and Selling

In related 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 completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Rock Ventures Iv L.P. Third sold 67,400 shares of the business's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $10.53, for a total transaction of $709,722.00. Following the sale, the insider now directly owns 16,859,075 shares in the company, valued at $177,526,059.75. The trade was a 0.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,830,400 shares of company stock worth $23,835,132. Insiders own 6.30% of the company's stock.

Institutional Trading of Tango Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Sphera Funds Management LTD. bought a new position in Tango Therapeutics in the 3rd quarter valued at $385,000. State Street Corp increased its stake in Tango Therapeutics by 26.8% in the 3rd quarter. State Street Corp now owns 2,318,208 shares of the company's stock worth $17,850,000 after acquiring an additional 489,949 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Tango Therapeutics in the 3rd quarter valued at about $247,000. Walleye Capital LLC bought a new stake in shares of Tango Therapeutics during the 3rd quarter valued at about $1,098,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Tango Therapeutics by 18.6% during the third 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 in the last quarter. Hedge funds and other institutional investors own 78.99% of the company's stock.

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.