Tango Therapeutics (NASDAQ:TNGX) Trading 7.1% Higher – Here’s Why

Tango Therapeutics, Inc. (NASDAQ:TNGX)’s share price traded up 7.1% during trading on Monday . The stock traded as high as $22.70 and last traded at $22.4630. 406,741 shares changed hands during trading, a decline of 88% from the average session volume of 3,275,212 shares. The stock had previously closed at $20.98.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Guggenheim raised their target price on Tango Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Wall Street Zen downgraded Tango Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Tango Therapeutics in a research report on Monday, April 20th. Citigroup restated a “buy” rating on shares of Tango Therapeutics in a research report on Monday, April 27th. Finally, Mizuho raised their target price on Tango Therapeutics from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 11th. Eleven research 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.44.

Tango Therapeutics Trading Down 2.4%

The company has a 50 day moving average price of $19.96 and a 200 day moving average price of $13.54. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of -27.15 and a beta of 1.22.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings data on Thursday, March 5th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.02. Tango Therapeutics had a negative return on equity of 50.30% and a negative net margin of 151.15%. Equities analysts predict that Tango Therapeutics, Inc. will post -1.35 earnings per share for the current year.

Insider Activity at Tango Therapeutics

In related news, insider Adam Crystal sold 27,000 shares of Tango Therapeutics stock in a transaction on Friday, May 1st. The stock was sold at an average price of $21.23, for a total transaction of $573,210.00. Following the completion of the sale, the insider directly owned 115,743 shares of the company’s stock, valued at $2,457,223.89. The trade was a 18.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 179,056 shares of company stock worth $3,346,181 over the last ninety days. 6.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Tango Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc grew its stake in shares of Tango Therapeutics by 30.7% during the second quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock worth $36,000 after purchasing an additional 1,640 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Tango Therapeutics by 26.7% during the fourth quarter. Russell Investments Group Ltd. now owns 9,794 shares of the company’s stock worth $87,000 after purchasing an additional 2,065 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Tango Therapeutics by 52.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,544 shares of the company’s stock worth $58,000 after purchasing an additional 2,243 shares during the period. SG Americas Securities LLC grew its stake in shares of Tango Therapeutics by 10.2% during the first quarter. SG Americas Securities LLC now owns 24,257 shares of the company’s stock worth $507,000 after purchasing an additional 2,251 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of Tango Therapeutics by 12.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 21,946 shares of the company’s stock worth $194,000 after purchasing an additional 2,444 shares during the period. 78.99% of the stock is owned by institutional investors and hedge funds.

About Tango Therapeutics

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.