Brokerages Set Tango Therapeutics, Inc. (NASDAQ:TNGX) Price Target at $12.33

Tango Therapeutics, Inc. (NASDAQ:TNGX) has been given a consensus recommendation of “Buy” by the seven analysts that are presently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $12.33.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price target on shares of Tango Therapeutics in a research report on Monday, April 14th.

Tango Therapeutics Trading Up 0.8 %

TNGX opened at $1.29 on Monday. Tango Therapeutics has a 1 year low of $1.11 and a 1 year high of $12.02. The stock has a fifty day moving average price of $1.79 and a 200 day moving average price of $3.24. The stock has a market cap of $139.46 million, a price-to-earnings ratio of -1.09 and a beta of 1.03.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.03). Tango Therapeutics had a negative net margin of 284.42% and a negative return on equity of 49.64%. The firm had revenue of $4.12 million during the quarter, compared to the consensus estimate of $7.84 million. As a group, sell-side analysts forecast that Tango Therapeutics will post -1.19 earnings per share for the current fiscal year.

Insider Transactions at Tango Therapeutics

In other Tango Therapeutics news, CEO Barbara Weber sold 9,778 shares of Tango Therapeutics stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $2.99, for a total value of $29,236.22. Following the transaction, the chief executive officer now directly owns 1,631,264 shares of the company’s stock, valued at $4,877,479.36. The trade was a 0.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 24,268 shares of company stock worth $72,561. Company insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of TNGX. State Street Corp raised its position in shares of Tango Therapeutics by 26.8% during the third quarter. State Street Corp now owns 2,318,208 shares of the company’s stock valued at $17,850,000 after buying an additional 489,949 shares during the last quarter. Geode Capital Management LLC raised its holdings in Tango Therapeutics by 11.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,368,262 shares of the company’s stock valued at $10,538,000 after acquiring an additional 142,710 shares in the last quarter. Schroder Investment Management Group acquired a new stake in shares of Tango Therapeutics during the 4th quarter worth approximately $2,031,000. Swiss National Bank increased its position in shares of Tango Therapeutics by 13.1% during the fourth quarter. Swiss National Bank now owns 94,900 shares of the company’s stock valued at $293,000 after purchasing an additional 11,000 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Tango Therapeutics by 12.4% in the fourth quarter. American Century Companies Inc. now owns 110,448 shares of the company’s stock valued at $341,000 after purchasing an additional 12,162 shares in the last quarter. Institutional investors 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.