Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives Average Recommendation of “Buy” from Analysts

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have been given a consensus rating of “Buy” by the eight analysts that are covering the stock, MarketBeat.com reports. Eight investment analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $13.14.

A number of equities analysts recently weighed in on the stock. Wedbush increased their price objective on shares of Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. HC Wainwright restated a “buy” rating and set a $13.00 price target on shares of Tango Therapeutics in a research report on Friday, November 8th. B. Riley cut their price objective on Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Finally, Guggenheim lowered their target price on Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, November 7th.

Insider Buying and Selling

In other news, major shareholder Rock Ventures Iv L.P. Third sold 175,000 shares of Tango Therapeutics stock in a transaction on Friday, August 30th. The shares were sold at an average price of $11.60, for a total transaction of $2,030,000.00. Following the completion of the sale, the insider now directly owns 17,001,475 shares of the company’s stock, valued at approximately $197,217,110. The trade was a 1.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Boxer Capital Management, Llc sold 3,080,000 shares of the stock in a transaction 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 $11,337,415.88. This trade represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,680,400 shares of company stock valued at $22,321,632 in the last three months. 6.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tango Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its stake in Tango Therapeutics by 32.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,964 shares of the company’s stock valued at $230,000 after purchasing an additional 7,128 shares during the last quarter. SG Americas Securities LLC raised its stake 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 acquiring an additional 4,203 shares in the last quarter. Vanguard Group Inc. lifted its position in Tango Therapeutics by 3.4% in the first quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock valued at $24,462,000 after acquiring an additional 101,673 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in 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 acquiring an additional 1,426 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of Tango Therapeutics during the first quarter worth about $80,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

Tango Therapeutics Price Performance

NASDAQ TNGX opened at $3.85 on Friday. Tango Therapeutics has a 12 month low of $2.70 and a 12 month high of $13.01. The stock has a market capitalization of $413.57 million, a P/E ratio of -3.30 and a beta of 0.88. The firm’s 50-day moving average is $6.53 and its two-hundred day moving average is $8.12.

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.