Tango Therapeutics (NASDAQ:TNGX) Sets New 52-Week High – Still a Buy?

Tango Therapeutics, Inc. (NASDAQ:TNGX)’s share price reached a new 52-week high on Wednesday . The company traded as high as $13.46 and last traded at $12.51, with a volume of 4188442 shares. The stock had previously closed at $13.01.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TNGX shares. Guggenheim boosted their price target on shares of Tango Therapeutics from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, October 24th. Stifel Nicolaus began coverage on Tango Therapeutics in a research report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 target price for the company. Piper Sandler upped their target price on Tango Therapeutics from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Wall Street Zen raised Tango Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tango Therapeutics in a research note on Monday, October 27th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $13.60.

Tango Therapeutics Trading Down 1.3%

The stock has a fifty day moving average of $9.87 and a two-hundred day moving average of $8.15. The company has a market capitalization of $1.66 billion, a PE ratio of -13.28 and a beta of 1.75.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.12. The business had revenue of $53.81 million for the quarter, compared to analysts’ expectations of $41.35 million. Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 60.80%. Equities analysts forecast that Tango Therapeutics, Inc. will post -1.19 EPS for the current year.

Institutional Trading of Tango Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Farallon Capital Management LLC grew its stake in shares of Tango Therapeutics by 17.5% during the third quarter. Farallon Capital Management LLC now owns 10,757,000 shares of the company’s stock valued at $90,359,000 after buying an additional 1,600,000 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new position in Tango Therapeutics during the 2nd quarter worth approximately $30,235,000. Vanguard Group Inc. grew its position in Tango Therapeutics by 25.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,052,003 shares of the company’s stock worth $42,437,000 after acquiring an additional 1,025,203 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in Tango Therapeutics by 6.9% in the 3rd quarter. Balyasny Asset Management L.P. now owns 3,472,207 shares of the company’s stock worth $29,167,000 after purchasing an additional 224,744 shares during the period. Finally, Nantahala Capital Management LLC lifted its position in Tango Therapeutics by 15.1% in the second quarter. Nantahala Capital Management LLC now owns 3,439,594 shares of the company’s stock valued at $17,611,000 after purchasing an additional 451,611 shares during the last quarter. 78.99% of the stock is owned by institutional investors.

Tango Therapeutics Company Profile

Tango Therapeutics is a clinical-stage biotechnology company dedicated to developing precision medicines that exploit genetic vulnerabilities in cancer cells. Leveraging a proprietary synthetic lethality platform, the company identifies and targets tumor-specific dependencies in DNA damage response and related pathways. By focusing on tumor cell collateral sensitivities, Tango aims to bring differentiated small-molecule therapies to patients with genetic alterations that confer increased susceptibility to targeted inhibition.

The company’s lead pipeline comprises several early-stage programs, including inhibitors designed to selectively disable DNA repair proteins in tumor cells while sparing normal tissues.