Tango Therapeutics (NASDAQ:TNGX) Coverage Initiated at Canaccord Genuity Group

Equities researchers at Canaccord Genuity Group began coverage on shares of Tango Therapeutics (NASDAQ:TNGX) in a report issued on Thursday, MarketBeat.com reports. The brokerage set a “buy” rating and a $30.00 price target on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 41.38% from the stock’s current price.

TNGX has been the topic of a number of other reports. Wedbush lifted their price target on shares of Tango Therapeutics from $15.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Stifel Nicolaus raised their price objective on Tango Therapeutics from $15.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Wall Street Zen cut Tango Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tango Therapeutics in a research report on Wednesday, January 21st. Finally, HC Wainwright increased their price target on Tango Therapeutics from $13.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.67.

Tango Therapeutics Price Performance

TNGX stock opened at $21.22 on Thursday. Tango Therapeutics has a 1-year low of $1.03 and a 1-year high of $21.82. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of -24.39 and a beta of 1.30. The business has a 50 day simple moving average of $14.76 and a two-hundred day simple moving average of $10.97.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings data on Thursday, March 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.02. Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 50.30%. Sell-side analysts anticipate that Tango Therapeutics will post -1.19 EPS for the current fiscal year.

Insider Buying and Selling at Tango Therapeutics

In other news, Director Barbara Weber sold 30,519 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total transaction of $374,162.94. Following the sale, the director directly owned 1,629,254 shares in the company, valued at approximately $19,974,654.04. This represents a 1.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adam Crystal sold 54,345 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $12.77, for a total transaction of $693,985.65. Following the completion of the transaction, the insider directly owned 132,873 shares of the company’s stock, valued at approximately $1,696,788.21. The trade was a 29.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 145,884 shares of company stock worth $1,965,942 over the last 90 days. 7.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Tango Therapeutics

Several large investors have recently added to or reduced their stakes in TNGX. Global Retirement Partners LLC purchased a new stake in Tango Therapeutics during the fourth quarter valued at approximately $35,000. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Tango Therapeutics by 139.7% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock worth $35,000 after purchasing 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 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock valued at $36,000 after purchasing an additional 1,640 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Tango Therapeutics by 78.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,830 shares of the company’s stock valued at $40,000 after purchasing an additional 3,452 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Tango Therapeutics by 148,800.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company’s stock valued at $40,000 after buying an additional 4,464 shares during the period. 78.99% of the stock is owned by institutional investors.

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.