Tango Therapeutics (NASDAQ:TNGX) Hits New 12-Month High – Still a Buy?

Tango Therapeutics, Inc. (NASDAQ:TNGX)’s share price reached a new 52-week high on Monday . The company traded as high as $32.85 and last traded at $32.69, with a volume of 1031777 shares trading hands. The stock had previously closed at $30.94.

Analyst Ratings Changes

A number of research analysts recently weighed in on TNGX shares. Wedbush raised their target price on shares of Tango Therapeutics from $19.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Guggenheim upped their price objective on Tango Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Piper Sandler cut Tango Therapeutics from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $16.00 to $24.00 in a research note on Thursday, May 14th. Leerink Partners upped their price objective on Tango Therapeutics from $55.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Finally, UBS Group set a $55.00 price objective on Tango Therapeutics in a research note on Thursday, May 14th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.42.

Tango Therapeutics Stock Up 4.0%

The firm has a 50 day moving average of $23.46 and a two-hundred day moving average of $16.41. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of -39.01 and a beta of 1.19.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.32) EPS for the quarter, meeting the consensus estimate of ($0.32). Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 41.54%. Sell-side analysts forecast that Tango Therapeutics, Inc. will post -1.28 EPS for the current fiscal year.

Insider Activity

In other news, insider Adam Crystal sold 38,460 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $25.00, for a total transaction of $961,500.00. Following the completion of the transaction, the insider directly owned 112,622 shares in the company, valued at $2,815,550. This trade represents a 25.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 131,460 shares of company stock worth $2,965,920 in the last ninety days. 6.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tango Therapeutics

Large investors have recently modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in shares of Tango Therapeutics during the fourth quarter worth $35,000. Dynamic Technology Lab Private Ltd increased its position in shares of Tango Therapeutics by 139.7% during the first quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock worth $35,000 after buying an additional 15,037 shares during the period. Legal & General Group Plc increased its position 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 buying an additional 1,640 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Tango Therapeutics by 148,800.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company’s stock worth $40,000 after purchasing an additional 4,464 shares during the period. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in Tango Therapeutics in the fourth quarter worth $40,000. 78.99% of the stock is currently owned by institutional investors and hedge funds.

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.