Tango Therapeutics (NASDAQ:TNGX) Sets New 1-Year High – Still a Buy?

Tango Therapeutics, Inc. (NASDAQ:TNGX) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $13.60 and last traded at $12.73, with a volume of 4610235 shares traded. The stock had previously closed at $12.20.

Wall Street Analysts Forecast Growth

TNGX has been the topic of several research reports. Guggenheim boosted their price target on Tango Therapeutics from $12.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Stifel Nicolaus assumed coverage on shares of Tango Therapeutics in a report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 target price on the stock. Piper Sandler raised their price target on shares of Tango Therapeutics from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tango Therapeutics in a report on Wednesday, January 21st. Finally, Wall Street Zen raised shares of Tango Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Tango Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $15.50.

Tango Therapeutics Price Performance

The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -13.58 and a beta of 1.75. The firm’s fifty day moving average is $11.23 and its 200-day moving average is $9.15.

Insider Buying and Selling

In other Tango Therapeutics news, CFO Daniella Beckman sold 10,317 shares of Tango Therapeutics stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total value of $126,486.42. Following the completion of the sale, the chief financial officer directly owned 184,297 shares in the company, valued at approximately $2,259,481.22. The trade was a 5.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Adam Crystal sold 18,452 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total transaction of $226,221.52. Following the sale, the insider directly owned 187,218 shares of the company’s stock, valued at approximately $2,295,292.68. This trade represents a 8.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 59,288 shares of company stock valued at $726,871 over the last 90 days. Company insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

Several institutional investors have recently made changes to their positions in TNGX. XTX Topco Ltd acquired a new stake in shares of Tango Therapeutics in the 4th quarter valued at about $335,000. VARCOV Co. bought a new position in Tango Therapeutics in the fourth quarter worth approximately $261,000. Virtus Investment Advisers LLC grew its stake in Tango Therapeutics by 26.3% in the fourth quarter. Virtus Investment Advisers LLC now owns 28,452 shares of the company’s stock valued at $252,000 after acquiring an additional 5,920 shares during the period. Tudor Investment Corp ET AL increased its holdings in shares of Tango Therapeutics by 27.4% during the fourth quarter. Tudor Investment Corp ET AL now owns 68,251 shares of the company’s stock valued at $605,000 after acquiring an additional 14,679 shares in the last quarter. Finally, Sphera Funds Management LTD. acquired a new position in shares of Tango Therapeutics during the fourth quarter worth approximately $4,825,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

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.