Tango Therapeutics, Inc. (NASDAQ:TNGX) Given Consensus Recommendation of “Buy” by Brokerages

Tango Therapeutics, Inc. (NASDAQ:TNGX) has received a consensus recommendation of “Buy” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $12.33.

Several research analysts have recently issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $13.00 target price on shares of Tango Therapeutics in a report on Friday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tango Therapeutics in a report on Thursday, December 5th. Guggenheim reduced their target price on Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, B. Riley decreased their target price on Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, November 11th.

Insider Buying and Selling

In other Tango Therapeutics news, CEO Barbara Weber sold 9,778 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $2.99, for a total transaction of $29,236.22. Following the completion of the sale, the chief executive officer now directly owns 1,631,264 shares of the company’s stock, valued at approximately $4,877,479.36. This trade represents a 0.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 24,268 shares of company stock valued at $72,561 over the last quarter. 6.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Woodline Partners LP purchased a new position in Tango Therapeutics in the 4th quarter valued at $1,219,000. Squarepoint Ops LLC acquired a new position in Tango Therapeutics during the 4th quarter worth approximately $40,000. Two Sigma Advisers LP purchased a new position in shares of Tango Therapeutics during the 4th quarter worth approximately $81,000. Stonebrook Private Inc. acquired a new stake in shares of Tango Therapeutics in the 4th quarter valued at approximately $34,000. Finally, Sherbrooke Park Advisers LLC purchased a new stake in shares of Tango Therapeutics in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

Tango Therapeutics Trading Down 5.0 %

NASDAQ:TNGX opened at $2.07 on Friday. The stock has a fifty day moving average price of $2.86 and a 200 day moving average price of $5.31. Tango Therapeutics has a 12-month low of $1.97 and a 12-month high of $12.02. The firm has a market cap of $222.36 million, a PE ratio of -1.75 and a beta of 0.80.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.03). The business had revenue of $4.12 million during the quarter, compared to analysts’ expectations of $7.84 million. Tango Therapeutics had a negative net margin of 284.42% and a negative return on equity of 49.64%. Equities analysts forecast that Tango Therapeutics will post -1.19 EPS 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.