Tango Therapeutics (NASDAQ:TNGX) Sees Strong Trading Volume – Should You Buy?

Tango Therapeutics, Inc. (NASDAQ:TNGX) shares saw unusually-high trading volume on Wednesday . Approximately 1,869,533 shares changed hands during mid-day trading, a decline of 45% from the previous session’s volume of 3,393,770 shares.The stock last traded at $30.5250 and had previously closed at $31.56.

Wall Street Analyst Weigh In

TNGX has been the subject of several recent analyst reports. Leerink Partners raised their price objective on shares of Tango Therapeutics from $55.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday. Wedbush lifted their target price on shares of Tango Therapeutics from $19.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Wall Street Zen lowered Tango Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Canaccord Genuity Group boosted their target price on shares of Tango Therapeutics from $30.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Stifel Nicolaus boosted their target price on shares of Tango Therapeutics from $24.00 to $40.00 and gave the company a “buy” rating in a report on Monday, April 27th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $38.42.

Tango Therapeutics Price Performance

The business’s 50-day moving average price is $23.26 and its 200 day moving average price is $16.27. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of -35.93 and a beta of 1.19.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly 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 net margin of 151.15% and a negative return on equity of 41.54%. As a group, sell-side analysts expect that Tango Therapeutics, Inc. will post -1.28 earnings per share for the current year.

Insider Transactions at Tango Therapeutics

In related news, insider Adam Crystal sold 27,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $22.87, for a total value of $617,490.00. Following the sale, the insider directly owned 115,743 shares of the company’s stock, valued at $2,647,042.41. This represents a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 131,460 shares of company stock valued at $2,965,920 over the last 90 days. Corporate insiders own 6.50% of the company’s stock.

Institutional Trading of Tango Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC acquired a new stake in shares of Tango Therapeutics during the fourth quarter worth $35,000. Dynamic Technology Lab Private Ltd raised its holdings in shares of Tango Therapeutics by 139.7% during the first 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 raised its holdings 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 worth $36,000 after purchasing an additional 1,640 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Tango Therapeutics by 148,800.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company’s stock worth $40,000 after purchasing an additional 4,464 shares during the period. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in shares of Tango Therapeutics during the fourth quarter worth $40,000. 78.99% of the stock is owned by institutional investors and hedge funds.

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.