Tango Therapeutics’ (TNGX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Tango Therapeutics (NASDAQ:TNGX) in a research note released on Thursday morning,Benzinga reports. They currently have a $68.00 price objective on the stock.

TNGX has been the topic of a number of other research reports. Zacks Research downgraded Tango Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 27th. JPMorgan Chase & Co. initiated coverage on Tango Therapeutics in a research report on Wednesday, July 15th. They issued an “overweight” rating and a $46.00 target price for the company. William Blair started coverage on Tango Therapeutics in a report on Friday, October 16th. They issued an “outperform” rating for the company. Guggenheim upped their price target on Tango Therapeutics from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Finally, Stifel Nicolaus set a $55.00 price objective on Tango Therapeutics in a research note on Friday, October 23rd. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $44.62.

Tango Therapeutics Price Performance

Shares of TNGX stock opened at $22.72 on Thursday. The firm has a market cap of $3.83 billion, a P/E ratio of -26.73 and a beta of 1.17. Tango Therapeutics has a 1-year low of $7.37 and a 1-year high of $34.39. The firm has a fifty day moving average of $23.61 and a two-hundred day moving average of $22.22.

Tango Therapeutics (NASDAQ:TNGX) last released its earnings results on Tuesday, August 11th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.05). On average, sell-side analysts expect that Tango Therapeutics will post -1.41 EPS for the current year.

Insider Buying and Selling

In other news, insider Jessica Newcomb sold 8,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $24.22, for a total transaction of $198,604.00. Following the completion of the transaction, the insider directly owned 59,121 shares of the company’s stock, valued at approximately $1,431,910.62. This represents a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adam Crystal sold 27,000 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $24.47, for a total value of $660,690.00. Following the sale, the insider owned 115,743 shares in the company, valued at $2,832,231.21. The trade was a 18.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Tango Therapeutics during the third quarter valued at approximately $215,000. Profund Advisors LLC boosted its position in shares of Tango Therapeutics by 48.8% during the third quarter. Profund Advisors LLC now owns 62,319 shares of the company’s stock worth $1,555,000 after buying an additional 20,430 shares during the period. Vise Technologies Inc. bought a new position in Tango Therapeutics in the 3rd quarter worth approximately $319,000. China Universal Asset Management Co. Ltd. grew its holdings in Tango Therapeutics by 28.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 37,165 shares of the company’s stock worth $908,000 after buying an additional 8,144 shares in the last quarter. Finally, Sterling Capital Management LLC grew its holdings in Tango Therapeutics by 838.8% in the 3rd quarter. Sterling Capital Management LLC now owns 4,647 shares of the company’s stock worth $116,000 after buying an additional 4,152 shares in the last quarter. Institutional investors and hedge funds own 78.99% of the company’s stock.

Tango Therapeutics Company Profile

Tango Therapeutics, Inc is a clinical-stage biotechnology company focused on discovering and developing medicines for cancer. The company uses functional genomics and genetic screening to identify vulnerabilities in tumor cells, including dependencies created by tumor-suppressor gene loss, and to develop targeted therapies designed to selectively attack cancer cells.

Tango’s pipeline includes small-molecule programs for genetically defined solid tumors. Its lead program, TNG462, is an MTA-cooperative PRMT5 inhibitor being developed for cancers with MTAP gene deletions.