Tango Therapeutics, Inc. (NASDAQ:TNGX) Given Consensus Rating of "Buy" by Brokerages

Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) has been given an average recommendation of "Buy" by the seven analysts that are covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $12.33.

Separately, HC Wainwright reissued a "buy" rating and issued a $13.00 price target on shares of Tango Therapeutics in a research note on Monday, April 14th.

Insider Buying and Selling

In other news, CEO Barbara Weber sold 9,778 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $2.99, for a total transaction of $29,236.22. Following the completion of the sale, the chief executive officer now owns 1,631,264 shares in the company, valued at $4,877,479.36. The trade was a 0.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 24,268 shares of company stock valued at $72,561. 6.30% of the stock is owned by company insiders.

Institutional Trading of Tango Therapeutics

Several hedge funds have recently bought and sold shares of TNGX. TCG Crossover Management LLC acquired a new position in shares of Tango Therapeutics during the fourth quarter valued at about $33,174,000. Boxer Capital Management LLC purchased a new stake in Tango Therapeutics in the 4th quarter valued at $32,077,000. Gilead Sciences Inc. purchased a new position in Tango Therapeutics during the 4th quarter worth $15,000,000. Farallon Capital Management LLC bought a new stake in shares of Tango Therapeutics in the 4th quarter worth $12,360,000. Finally, Balyasny Asset Management L.P. raised its holdings in shares of Tango Therapeutics by 22.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 3,279,196 shares of the company's stock valued at $10,133,000 after purchasing an additional 592,000 shares during the last quarter. Institutional investors and hedge funds own 78.99% of the company's stock.

Tango Therapeutics Stock Up 0.8 %

Shares of TNGX traded up $0.01 during trading hours on Monday, hitting $1.29. The company had a trading volume of 467,141 shares, compared to its average volume of 1,072,447. The firm has a market cap of $139.46 million, a price-to-earnings ratio of -1.09 and a beta of 1.03. The business has a fifty day moving average of $1.79 and a 200-day moving average of $3.29. Tango Therapeutics has a 12 month low of $1.11 and a 12 month high of $12.02.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.35) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.03). Tango Therapeutics had a negative return on equity of 49.64% and a negative net margin of 284.42%. The firm had revenue of $4.12 million for the quarter, compared to the consensus estimate of $7.84 million. On average, equities analysts expect that Tango Therapeutics will post -1.19 EPS for the current fiscal year.

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.