Tango Therapeutics (NASDAQ:TNGX) Receives “Overweight” Rating from Cantor Fitzgerald

Tango Therapeutics (NASDAQ:TNGX)‘s stock had its “overweight” rating reiterated by investment analysts at Cantor Fitzgerald in a research report issued on Thursday,Benzinga reports.

Other equities analysts have also recently issued research reports about the stock. Guggenheim reduced their price target on shares of Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. B. Riley cut their target price on shares of Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, November 11th. HC Wainwright reissued a “buy” rating and issued a $13.00 target price on shares of Tango Therapeutics in a report on Friday, November 8th. Finally, Wedbush raised their target price on shares of Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tango Therapeutics has a consensus rating of “Buy” and a consensus target price of $13.14.

Tango Therapeutics Stock Performance

Shares of TNGX stock opened at $3.52 on Thursday. Tango Therapeutics has a one year low of $2.70 and a one year high of $13.01. The company’s 50-day simple moving average is $5.36 and its 200-day simple moving average is $7.80. The stock has a market capitalization of $378.12 million, a price-to-earnings ratio of -2.98 and a beta of 0.74.

Insider Buying and Selling at Tango Therapeutics

In related news, insider Boxer Capital Management, Llc sold 625,000 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $7.05, for a total transaction of $4,406,250.00. Following the transaction, the insider now owns 7,573,642 shares in the company, valued at $53,394,176.10. This trade represents a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Rock Ventures Iv L.P. Third sold 67,400 shares of the firm’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 transaction of $709,722.00. Following the transaction, the insider now owns 16,859,075 shares in the company, valued at $177,526,059.75. This represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,405,400 shares of company stock worth $19,135,882. 6.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its stake in Tango Therapeutics by 12.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock worth $102,000 after purchasing an additional 1,426 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Tango Therapeutics by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,511 shares of the company’s stock worth $253,000 after purchasing an additional 2,218 shares during the period. Point72 DIFC Ltd acquired a new position in Tango Therapeutics in the 2nd quarter worth approximately $54,000. China Universal Asset Management Co. Ltd. boosted its stake in Tango Therapeutics by 64.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 20,607 shares of the company’s stock worth $159,000 after purchasing an additional 8,055 shares during the period. Finally, Quest Partners LLC boosted its stake in shares of Tango Therapeutics by 1,448.4% during the 3rd quarter. Quest Partners LLC now owns 10,885 shares of the company’s stock valued at $84,000 after buying an additional 10,182 shares during the period. Institutional investors and hedge funds own 78.99% of the company’s stock.

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.