Tango Therapeutics (NASDAQ:TNGX) Stock Price Down 3.8%

Tango Therapeutics, Inc. (NASDAQ:TNGX) was down 3.8% on Friday . The stock traded as low as $7.05 and last traded at $7.09. Approximately 100,257 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 652,385 shares. The stock had previously closed at $7.37.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TNGX shares. Piper Sandler started coverage on shares of Tango Therapeutics in a report on Monday, February 12th. They issued an “overweight” rating and a $18.00 price objective on the stock. Wedbush restated an “outperform” rating and issued a $18.00 price objective on shares of Tango Therapeutics in a report on Monday, March 18th. HC Wainwright increased their price objective on shares of Tango Therapeutics from $16.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, Cantor Fitzgerald started coverage on shares of Tango Therapeutics in a research note on Thursday, April 4th. They issued an “overweight” rating for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tango Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $17.25.

Tango Therapeutics Price Performance

The stock has a market cap of $752.38 million, a P/E ratio of -6.64 and a beta of 0.83. The company’s 50 day simple moving average is $9.52 and its 200 day simple moving average is $9.47.

Tango Therapeutics (NASDAQ:TNGX) last issued its earnings results on Monday, March 18th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.04). Tango Therapeutics had a negative net margin of 278.55% and a negative return on equity of 41.96%. The firm had revenue of $5.43 million during the quarter, compared to the consensus estimate of $7.86 million. On average, equities research analysts predict that Tango Therapeutics, Inc. will post -1.28 earnings per share for the current year.

Insider Transactions at Tango Therapeutics

In other news, insider Adam Crystal sold 4,288 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $12.56, for a total transaction of $53,857.28. Following the completion of the sale, the insider now owns 123,561 shares of the company’s stock, valued at $1,551,926.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Adam Crystal sold 4,288 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $12.56, for a total transaction of $53,857.28. Following the completion of the sale, the insider now owns 123,561 shares of the company’s stock, valued at $1,551,926.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Barbara Weber sold 4,681 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $12.56, for a total transaction of $58,793.36. Following the sale, the chief executive officer now directly owns 1,539,624 shares of the company’s stock, valued at approximately $19,337,677.44. The disclosure for this sale can be found here. Insiders sold 174,731 shares of company stock valued at $2,103,703 over the last quarter. Corporate insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TNGX. RTW Investments LP bought a new position in Tango Therapeutics in the fourth quarter valued at $19,471,000. FMR LLC grew its position in Tango Therapeutics by 12.3% in the third quarter. FMR LLC now owns 11,645,741 shares of the company’s stock valued at $131,131,000 after purchasing an additional 1,276,945 shares in the last quarter. Vanguard Group Inc. grew its position in Tango Therapeutics by 87.6% in the first quarter. Vanguard Group Inc. now owns 2,713,963 shares of the company’s stock valued at $20,571,000 after purchasing an additional 1,267,198 shares in the last quarter. Boxer Capital LLC grew its position in Tango Therapeutics by 15.1% in the fourth quarter. Boxer Capital LLC now owns 8,198,642 shares of the company’s stock valued at $81,167,000 after purchasing an additional 1,075,000 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C bought a new position in Tango Therapeutics in the third quarter valued at $8,937,000. 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.