Tango Therapeutics (NASDAQ:TNGX) Coverage Initiated at Mizuho

Research analysts at Mizuho initiated coverage on shares of Tango Therapeutics (NASDAQ:TNGX) in a report issued on Monday. The firm set an “outperform” rating and a $19.00 price target on the stock. Mizuho’s target price suggests a potential upside of 55.74% from the stock’s current price.

Several other brokerages have also recently weighed in on TNGX. Weiss Ratings reissued a “sell (e+)” rating on shares of Tango Therapeutics in a research report on Wednesday, January 21st. Guggenheim increased their target price on shares of Tango Therapeutics from $12.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Cantor Fitzgerald reissued an “overweight” rating on shares of Tango Therapeutics in a research note on Monday, October 27th. Stifel Nicolaus assumed coverage on Tango Therapeutics in a research report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 price target for the company. Finally, Wolfe Research started coverage on Tango Therapeutics in a research report on Tuesday, November 18th. They issued a “peer perform” rating on the stock. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.50.

Tango Therapeutics Trading Down 1.2%

TNGX stock opened at $12.20 on Monday. The company’s 50 day moving average is $11.01 and its 200 day moving average is $9.04. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -13.12 and a beta of 1.75. Tango Therapeutics has a 1-year low of $1.03 and a 1-year high of $13.48.

Insider Activity at Tango Therapeutics

In other news, Director Barbara Weber sold 30,519 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total value of $374,162.94. Following the sale, the director directly owned 1,629,254 shares of the company’s stock, valued at $19,974,654.04. The trade was a 1.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Daniella Beckman sold 10,317 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total value of $126,486.42. Following the transaction, the chief financial officer directly owned 184,297 shares of the company’s stock, valued at approximately $2,259,481.22. This trade represents a 5.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 59,288 shares of company stock valued at $726,871 in the last three months. Company insiders own 7.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TNGX. XTX Topco Ltd purchased a new stake in shares of Tango Therapeutics in the 4th quarter worth $335,000. VARCOV Co. bought a new stake in Tango Therapeutics during the fourth quarter valued at about $261,000. Virtus Investment Advisers LLC increased its position in Tango Therapeutics by 26.3% in the fourth quarter. Virtus Investment Advisers LLC now owns 28,452 shares of the company’s stock worth $252,000 after buying an additional 5,920 shares in the last quarter. Tudor Investment Corp ET AL raised its stake in shares of Tango Therapeutics by 27.4% in the fourth quarter. Tudor Investment Corp ET AL now owns 68,251 shares of the company’s stock worth $605,000 after buying an additional 14,679 shares during the period. Finally, Sphera Funds Management LTD. purchased a new position in shares of Tango Therapeutics during the 4th quarter valued at about $4,825,000. 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.