Tango Therapeutics (NASDAQ:TNGX) Trading Up 8.8% – Should You Buy?

Tango Therapeutics, Inc. (NASDAQ:TNGX) was up 8.8% on Monday . The company traded as high as $13.38 and last traded at $13.2680. Approximately 633,513 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 2,876,713 shares. The stock had previously closed at $12.20.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Piper Sandler increased their price target on Tango Therapeutics from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Tango Therapeutics in a research report on Wednesday, January 21st. Guggenheim increased their price objective on shares of Tango Therapeutics from $12.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Stifel Nicolaus started coverage on shares of Tango Therapeutics in a research note on Wednesday, December 3rd. They set a “buy” rating and a $15.00 target price for the company. Finally, Mizuho began coverage on Tango Therapeutics in a report on Monday. They set an “outperform” rating and a $19.00 price target for the company. 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.50.

Tango Therapeutics Trading Up 2.5%

The stock’s 50-day moving average price is $11.01 and its 200-day moving average price is $9.04. The company has a market cap of $1.68 billion, a P/E ratio of -13.45 and a beta of 1.75.

Insider Buying and Selling at Tango Therapeutics

In related news, Director Barbara Weber sold 30,519 shares of the stock in a transaction 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 transaction, the director directly owned 1,629,254 shares in the company, valued at $19,974,654.04. This trade represents a 1.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Adam Crystal sold 18,452 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total transaction of $226,221.52. Following the transaction, the insider owned 187,218 shares in the company, valued at approximately $2,295,292.68. The trade was a 8.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 59,288 shares of company stock valued at $726,871. Company insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. CWM LLC boosted its stake in shares of Tango Therapeutics by 182.2% in the 2nd quarter. CWM LLC now owns 4,905 shares of the company’s stock worth $25,000 after buying an additional 3,167 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Tango Therapeutics during the 4th quarter worth $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 buying an additional 15,037 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Tango Therapeutics by 30.7% in the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock worth $36,000 after buying an additional 1,640 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its position in Tango Therapeutics by 78.8% during the second quarter. Ameritas Investment Partners Inc. now owns 7,830 shares of the company’s stock valued at $40,000 after buying an additional 3,452 shares during the period. 78.99% of the stock is owned by 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.