Tango Therapeutics, Inc. (NASDAQ:TNGX) Receives $13.14 Average Target Price from Analysts

Tango Therapeutics, Inc. (NASDAQ:TNGX) has received a consensus recommendation of “Buy” from the eight research firms that are covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $13.14.

TNGX has been the topic of several recent research reports. Wedbush increased 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. Guggenheim lowered their price target on shares of Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. HC Wainwright restated a “buy” rating and issued a $13.00 target price on shares of Tango Therapeutics in a research note on Friday, November 8th. Finally, B. Riley decreased their price objective on Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating for the company in a report on Monday, November 11th.

Tango Therapeutics Trading Down 11.0 %

Shares of TNGX stock opened at $3.63 on Friday. The stock has a market capitalization of $389.93 million, a price-to-earnings ratio of -3.15 and a beta of 0.88. Tango Therapeutics has a twelve month low of $2.70 and a twelve month high of $13.01. The stock has a fifty day simple moving average of $6.32 and a two-hundred day simple moving average of $8.06.

Insider Activity at Tango Therapeutics

In other news, insider Boxer Capital Management, Llc sold 633,000 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $6.87, for a total value of $4,348,710.00. Following the sale, the insider now owns 6,690,642 shares in the company, valued at $45,964,710.54. This represents a 8.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Rock Ventures Iv L.P. Third sold 175,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $11.60, for a total value of $2,030,000.00. Following the completion of the transaction, the insider now directly owns 17,001,475 shares of the company’s stock, valued at $197,217,110. The trade was a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,680,400 shares of company stock valued at $22,321,632 in the last ninety days. Company insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in TNGX. Point72 DIFC Ltd acquired a new position in shares of Tango Therapeutics in the 2nd quarter valued at $54,000. Paloma Partners Management Co purchased a new position in shares of Tango Therapeutics during the 1st quarter valued at approximately $80,000. Quest Partners LLC grew its stake in Tango Therapeutics by 1,448.4% in the 3rd quarter. Quest Partners LLC now owns 10,885 shares of the company’s stock valued at $84,000 after acquiring an additional 10,182 shares during the period. Principal Financial Group Inc. acquired a new stake in Tango Therapeutics in the 2nd quarter valued at $90,000. Finally, Quarry LP purchased a new stake in Tango Therapeutics in the 2nd quarter worth $99,000. 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.