Brokerages Set Tango Therapeutics, Inc. (NASDAQ:TNGX) Target Price at $15.14

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have received a consensus rating of “Buy” from the eight research firms that are covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $15.14.

TNGX has been the topic of a number of research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Tango Therapeutics in a research report on Tuesday, July 9th. Wedbush upped their target price on shares of Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Jefferies Financial Group began coverage on Tango Therapeutics in a research report on Wednesday, July 17th. They issued a “buy” rating and a $19.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $13.00 price objective on shares of Tango Therapeutics in a report on Tuesday, September 10th.

Insider Buying and Selling

In other news, major shareholder Rock Ventures Iv L.P. Third sold 67,400 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $10.53, for a total value of $709,722.00. Following the completion of the transaction, the insider now owns 16,859,075 shares in the company, valued at $177,526,059.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 1,680,311 shares of company stock valued at $17,042,393. 6.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Point72 DIFC Ltd acquired a new position in Tango Therapeutics in the 2nd quarter valued at about $54,000. Paloma Partners Management Co acquired a new stake in Tango Therapeutics during the 1st quarter worth approximately $80,000. Principal Financial Group Inc. bought a new stake in Tango Therapeutics in the 2nd quarter valued at $90,000. Quarry LP acquired a new position in Tango Therapeutics in the 2nd quarter valued at $99,000. Finally, Price T Rowe Associates Inc. MD increased its position in Tango Therapeutics by 12.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock worth $102,000 after buying an additional 1,426 shares during the period. Institutional investors and hedge funds own 78.99% of the company’s stock.

Tango Therapeutics Stock Up 3.1 %

Shares of NASDAQ TNGX opened at $7.70 on Thursday. Tango Therapeutics has a 12-month low of $5.15 and a 12-month high of $13.03. The firm’s 50-day simple moving average is $9.70 and its 200 day simple moving average is $8.62. The company has a market cap of $822.71 million, a price-to-earnings ratio of -6.81 and a beta of 0.84.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.10. The firm had revenue of $19.88 million for the quarter, compared to the consensus estimate of $7.39 million. Tango Therapeutics had a negative return on equity of 44.73% and a negative net margin of 274.04%. On average, equities analysts expect that Tango Therapeutics will post -1.27 earnings per share for the current year.

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.