Tango Therapeutics (NASDAQ:TNGX) Price Target Raised to $24.00 at Stifel Nicolaus

Tango Therapeutics (NASDAQ:TNGX) had its price objective boosted by research analysts at Stifel Nicolaus from $15.00 to $24.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 41.59% from the stock’s current price.

A number of other equities research analysts have also weighed in on the stock. HC Wainwright boosted their target price on shares of Tango Therapeutics from $13.00 to $27.00 and gave the company a “buy” rating in a research note on Friday. Wall Street Zen cut Tango Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday. Piper Sandler lifted their price objective on Tango Therapeutics from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Jefferies Financial Group restated a “buy” rating and set a $18.00 target price on shares of Tango Therapeutics in a research note on Thursday. Finally, Mizuho initiated coverage on shares of Tango Therapeutics in a research report on Monday, February 23rd. They issued an “outperform” rating and a $19.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Tango Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $19.38.

Tango Therapeutics Trading Up 0.7%

Shares of NASDAQ:TNGX opened at $16.95 on Monday. The stock has a fifty day simple moving average of $11.86 and a two-hundred day simple moving average of $9.48. Tango Therapeutics has a 12-month low of $1.03 and a 12-month high of $17.63. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of -19.48 and a beta of 1.76.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings results on Thursday, March 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.02. Tango Therapeutics had a negative return on equity of 50.30% and a negative net margin of 151.15%. As a group, equities research analysts predict that Tango Therapeutics will post -1.19 EPS for the current year.

Insider Buying and Selling at Tango Therapeutics

In other Tango Therapeutics news, Director Barbara Weber sold 30,519 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total transaction of $374,162.94. Following the transaction, the director owned 1,629,254 shares in the company, valued at $19,974,654.04. The trade was a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Adam Crystal sold 54,345 shares of the stock in a transaction on 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 sale, the insider directly owned 132,873 shares in the company, valued at approximately $1,696,788.21. This represents a 29.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 113,633 shares of company stock worth $1,420,857 over the last quarter. Insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Global Retirement Partners LLC purchased a new position in Tango Therapeutics during the 4th quarter valued at $35,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of 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 buying an additional 4,464 shares during the period. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Tango Therapeutics in the 4th quarter worth $40,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Tango Therapeutics by 52.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,544 shares of the company’s stock worth $58,000 after buying an additional 2,243 shares in the last quarter. Finally, Legal & General Group Plc increased its stake 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 valued at $36,000 after buying an additional 1,640 shares during the period. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

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.