Analysts Set Tango Therapeutics, Inc. (NASDAQ:TNGX) Price Target at $38.42

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have received an average rating of “Moderate Buy” from the fourteen research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $38.4167.

A number of analysts have recently weighed in on TNGX shares. Canaccord Genuity Group raised their price objective on Tango Therapeutics from $30.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. UBS Group set a $55.00 price objective on Tango Therapeutics in a research report on Thursday, May 14th. Wolfe Research set a $35.00 price objective on Tango Therapeutics and gave the stock an “outperform” rating in a research report on Monday, June 8th. Stifel Nicolaus raised their price objective on Tango Therapeutics from $24.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Finally, Guggenheim raised their price objective on Tango Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, March 6th.

Tango Therapeutics Stock Performance

Shares of NASDAQ TNGX opened at $27.97 on Friday. The stock has a market capitalization of $4.05 billion, a PE ratio of -33.70 and a beta of 1.19. The stock’s fifty day simple moving average is $24.46 and its two-hundred day simple moving average is $17.07. Tango Therapeutics has a 12-month low of $4.60 and a 12-month high of $34.39.

Tango Therapeutics (NASDAQ:TNGX) last announced its earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.32). Tango Therapeutics had a negative return on equity of 41.54% and a negative net margin of 151.15%. On average, equities analysts predict that Tango Therapeutics will post -1.28 earnings per share for the current fiscal year.

Insider Transactions at Tango Therapeutics

In related news, insider Adam Crystal sold 38,460 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $25.00, for a total value of $961,500.00. Following the completion of the transaction, the insider owned 112,622 shares in the company, valued at $2,815,550. This trade represents a 25.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders sold 131,460 shares of company stock valued at $2,965,920. Company insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new position in Tango Therapeutics in the 4th quarter worth $35,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Tango Therapeutics by 148,800.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company’s stock worth $40,000 after acquiring an additional 4,464 shares during the last quarter. ANTIPODES PARTNERS Ltd purchased a new position in Tango Therapeutics in the 4th quarter worth $40,000. State of Wyoming purchased a new position in Tango Therapeutics in the 1st quarter worth $128,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Tango Therapeutics by 52.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,544 shares of the company’s stock worth $58,000 after acquiring an additional 2,243 shares during the last quarter. Hedge funds and other institutional investors 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.