Tango Therapeutics (NASDAQ:TNGX) Trading Up 8.8%

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) rose 8.8% during trading on Wednesday . The stock traded as high as $9.90 and last traded at $9.89. Approximately 573,861 shares traded hands during trading, a decline of 19% from the average daily volume of 705,264 shares. The stock had previously closed at $9.09.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TNGX shares. Jefferies Financial Group assumed coverage on shares of Tango Therapeutics in a research report on Wednesday, July 17th. They issued a “buy” rating and a $19.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price target on shares of Tango Therapeutics in a research report on Tuesday. Guggenheim raised Tango Therapeutics to a “strong-buy” rating in a research report on Tuesday, May 28th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tango Therapeutics in a research report on Tuesday, July 9th. Finally, Wedbush increased their price target on Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tango Therapeutics has a consensus rating of “Buy” and a consensus target price of $15.14.

Tango Therapeutics Stock Performance

The company has a 50 day simple moving average of $9.97 and a two-hundred day simple moving average of $8.86. The firm has a market cap of $1.12 billion, a PE ratio of -9.29 and a beta of 0.84.

Tango Therapeutics (NASDAQ:TNGX) last released its earnings results on Wednesday, August 7th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.10. Tango Therapeutics had a negative return on equity of 44.73% and a negative net margin of 274.04%. The firm had revenue of $19.88 million during the quarter, compared to the consensus estimate of $7.39 million. As a group, research analysts predict that Tango Therapeutics, Inc. will post -1.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Rock Ventures Iv L.P. Third sold 550,171 shares of Tango Therapeutics stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $9.79, for a total transaction of $5,386,174.09. Following the completion of the transaction, the insider now directly owns 18,651,304 shares of the company’s stock, valued at approximately $182,596,266.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder Rock Ventures Iv L.P. Third sold 550,171 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $9.79, for a total transaction of $5,386,174.09. Following the sale, the insider now directly owns 18,651,304 shares in the company, valued at approximately $182,596,266.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mva Investors, Llc sold 29,000 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $8.57, for a total value of $248,530.00. Following the completion of the transaction, the insider now directly owns 314,524 shares of the company’s stock, valued at approximately $2,695,470.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,752,642 shares of company stock worth $17,563,385. Corporate insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Boxer Capital LLC increased 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 worth $81,167,000 after buying an additional 1,075,000 shares in the last quarter. Mass General Brigham Inc purchased a new stake in shares of Tango Therapeutics during the first quarter worth approximately $2,812,000. Fisher Asset Management LLC acquired a new position in Tango Therapeutics in the 4th quarter valued at $997,000. Victory Capital Management Inc. purchased a new position in Tango Therapeutics in the 4th quarter valued at $719,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Tango Therapeutics during the fourth quarter worth $136,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

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.