Tango Therapeutics (NASDAQ:TNGX) Sets New 12-Month High After Analyst Upgrade

Tango Therapeutics, Inc. (NASDAQ:TNGX)’s share price hit a new 52-week high on Monday after HC Wainwright raised their price target on the stock from $27.00 to $66.00. HC Wainwright currently has a buy rating on the stock. Tango Therapeutics traded as high as $29.70 and last traded at $28.7090, with a volume of 2715375 shares changing hands. The stock had previously closed at $20.22.

Other analysts also recently issued research reports about the company. Wolfe Research set a $35.00 target price on Tango Therapeutics and gave the company an “outperform” rating in a research note on Monday. Canaccord Genuity Group lifted their target price on Tango Therapeutics from $30.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday. Citigroup reaffirmed a “buy” rating on shares of Tango Therapeutics in a research note on Monday, April 27th. Mizuho set a $36.00 target price on Tango Therapeutics in a research note on Monday. Finally, Wedbush lifted their target price on Tango Therapeutics from $19.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Eleven 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.42.

Insider Activity at Tango Therapeutics

In other news, insider Adam Crystal sold 27,000 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $22.87, for a total value of $617,490.00. Following the sale, the insider owned 115,743 shares of the company’s stock, valued at approximately $2,647,042.41. The trade was a 18.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 131,460 shares of company stock valued at $2,965,920. 6.50% of the stock is currently owned by insiders.

Key Tango Therapeutics News

Here are the key news stories impacting Tango Therapeutics this week:

• Positive Sentiment: Early Phase 1/2 data showed a 92% objective response rate and a 90% 6-month progression-free survival rate in pancreatic cancer patients, with the combination generally well tolerated. Article Title
• Positive Sentiment: Tango said the results support advancing the vopimetostat/daraxonrasib program into Phase 3 development, which strengthens the company’s pipeline narrative and potential long-term commercial outlook. Article Title
• Positive Sentiment: Several reports noted analyst upgrades and higher price targets after the data, reinforcing the view that the study results were better than expected. Article Title
• Neutral Sentiment: The company also announced a proposed $500 million public offering, which could add cash for development but may dilute existing shareholders if completed. Article Title
• Negative Sentiment: Short-interest data appears unreliable in the feed and does not clearly indicate a meaningful change in bearish positioning.

Institutional Investors Weigh In On Tango Therapeutics

Several hedge funds have recently modified their holdings of the stock. Legal & General Group Plc lifted 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 valued at $36,000 after purchasing an additional 1,640 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Tango Therapeutics by 26.7% during the fourth quarter. Russell Investments Group Ltd. now owns 9,794 shares of the company’s stock valued at $87,000 after purchasing an additional 2,065 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Tango Therapeutics by 52.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,544 shares of the company’s stock valued at $58,000 after purchasing an additional 2,243 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Tango Therapeutics by 10.2% during the first quarter. SG Americas Securities LLC now owns 24,257 shares of the company’s stock valued at $507,000 after purchasing an additional 2,251 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Tango Therapeutics by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 489,348 shares of the company’s stock valued at $10,237,000 after purchasing an additional 2,272 shares during the last quarter. 78.99% of the stock is owned by hedge funds and other institutional investors.

Tango Therapeutics Price Performance

The firm has a market capitalization of $4.57 billion, a PE ratio of -38.02 and a beta of 1.19. The firm has a fifty day moving average price of $22.90 and a 200 day moving average price of $15.99.

Tango Therapeutics (NASDAQ:TNGX) last announced its earnings results on Wednesday, May 13th. The company reported ($0.32) EPS for the quarter, meeting the consensus estimate of ($0.32). Tango Therapeutics had a negative return on equity of 41.54% and a negative net margin of 151.15%. On average, sell-side analysts expect that Tango Therapeutics, Inc. will post -1.29 EPS for the current year.

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.