Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives Average Rating of “Buy” from Analysts

Tango Therapeutics, Inc. (NASDAQ:TNGX) has received an average recommendation of “Buy” from the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have issued a report on the stock in the last year is $13.14.

TNGX has been the topic of several recent analyst reports. B. Riley dropped their price objective on Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. HC Wainwright restated a “buy” rating and set a $13.00 price objective on shares of Tango Therapeutics in a research report on Friday, November 8th. Guggenheim cut their target price on shares of Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Wedbush increased their price target on Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Thursday, August 8th.

Tango Therapeutics Trading Down 11.0 %

Tango Therapeutics stock opened at $3.63 on Friday. Tango Therapeutics has a 12 month low of $2.70 and a 12 month high of $13.01. The business’s fifty day simple moving average is $6.32 and its two-hundred day simple moving average is $8.06. The company has a market capitalization of $389.93 million, a price-to-earnings ratio of -3.15 and a beta of 0.88.

Insider Activity

In related news, major shareholder Rock Ventures Iv L.P. Third sold 175,000 shares of Tango Therapeutics stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $11.60, for a total transaction of $2,030,000.00. Following the sale, the insider now owns 17,001,475 shares of the company’s stock, valued at approximately $197,217,110. This trade represents a 1.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Boxer Capital Management, Llc sold 3,080,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $3.14, for a total value of $9,671,200.00. Following the completion of the transaction, the insider now directly owns 3,610,642 shares in the company, valued at approximately $11,337,415.88. This represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,680,400 shares of company stock valued at $22,321,632 in the last ninety days. Corporate insiders own 6.30% of the company’s stock.

Institutional Trading of Tango Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 DIFC Ltd bought a new position in shares of Tango Therapeutics during the 2nd quarter valued at approximately $54,000. Paloma Partners Management Co purchased a new stake in Tango Therapeutics during the first quarter valued at $80,000. Quest Partners LLC lifted its position in Tango Therapeutics by 1,448.4% during the third quarter. Quest Partners LLC now owns 10,885 shares of the company’s stock valued at $84,000 after purchasing an additional 10,182 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Tango Therapeutics in the 2nd quarter worth $90,000. Finally, Quarry LP bought a new stake in shares of Tango Therapeutics in the 2nd quarter worth about $99,000. 78.99% of the stock is currently owned by institutional investors.

About Tango Therapeutics

Tango Therapeutics, Inc, a biotechnology company, discovers and develops drugs for the treatment of cancer. Its lead program is TNG908, a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 that is being developed as a treatment for cancers with methylthioadenosine phosphorylase deletions.