Tango Therapeutics (NASDAQ:TNGX) Price Target Lowered to $14.00 at Guggenheim

Tango Therapeutics (NASDAQ:TNGX) had its price target lowered by Guggenheim from $16.00 to $14.00 in a report published on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts have also issued reports on TNGX. Barclays lowered their target price on Tango Therapeutics from $18.00 to $13.00 and set an overweight rating for the company in a research report on Friday. HC Wainwright reaffirmed a buy rating and set a $17.00 target price on shares of Tango Therapeutics in a research report on Thursday, May 9th. Piper Sandler started coverage on Tango Therapeutics in a research report on Monday, February 12th. They set an overweight rating and a $18.00 target price for the company. Cantor Fitzgerald started coverage on Tango Therapeutics in a research report on Thursday, April 4th. They set an overweight rating for the company. Finally, Wedbush lowered their target price on Tango Therapeutics from $18.00 to $11.00 and set an outperform rating for the company in a research report on Thursday, May 23rd. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of Buy and an average target price of $14.83.

Tango Therapeutics Stock Performance

Shares of TNGX opened at $6.91 on Friday. Tango Therapeutics has a 52 week low of $2.47 and a 52 week high of $13.03. The stock has a market capitalization of $738.33 million, a price-to-earnings ratio of -6.12 and a beta of 0.84. The stock has a fifty day moving average of $7.58 and a 200-day moving average of $9.28.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings results on Monday, March 18th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). Tango Therapeutics had a negative net margin of 299.88% and a negative return on equity of 44.35%. The firm had revenue of $5.43 million during the quarter, compared to the consensus estimate of $7.86 million. As a group, equities analysts forecast that Tango Therapeutics will post -1.28 EPS for the current year.

Insider Transactions at Tango Therapeutics

In other news, insider Mva Investors, Llc sold 60,000 shares of Tango Therapeutics stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $7.61, for a total value of $456,600.00. Following the completion of the transaction, the insider now directly owns 483,524 shares of the company’s stock, valued at approximately $3,679,617.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.20% of the company’s stock.

Institutional Trading of Tango Therapeutics

Several large investors have recently made changes to their positions in the company. FMR LLC grew its stake in shares of Tango Therapeutics by 12.3% in the 3rd quarter. FMR LLC now owns 11,645,741 shares of the company’s stock valued at $131,131,000 after buying an additional 1,276,945 shares during the period. Boxer Capital LLC boosted its stake in Tango Therapeutics by 15.1% during the 4th quarter. Boxer Capital LLC now owns 8,198,642 shares of the company’s stock valued at $81,167,000 after purchasing an additional 1,075,000 shares during the last quarter. Vanguard Group Inc. boosted its stake in Tango Therapeutics by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock valued at $24,462,000 after purchasing an additional 101,673 shares during the last quarter. Artal Group S.A. acquired a new position in Tango Therapeutics during the 1st quarter valued at about $17,427,000. Finally, RTW Investments LP acquired a new position in Tango Therapeutics during the 4th quarter valued at about $19,471,000. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Tango Therapeutics Company Profile

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.