Tango Therapeutics (NASDAQ:TNGX) PT Lowered to $13.00 at Barclays

Tango Therapeutics (NASDAQ:TNGX) had its price target lowered by Barclays from $18.00 to $13.00 in a report published on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts also recently issued reports about the company. Wedbush cut their target price on Tango Therapeutics from $18.00 to $11.00 and set an outperform rating on the stock in a report on Thursday. HC Wainwright reaffirmed a buy rating and set a $17.00 target price on shares of Tango Therapeutics in a report on Thursday, May 9th. Cantor Fitzgerald started coverage on Tango Therapeutics in a research note on Thursday, April 4th. They issued an overweight rating on the stock. Finally, Piper Sandler started coverage on Tango Therapeutics in a research note on Monday, February 12th. They issued an overweight rating and a $18.00 price objective on the stock. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Tango Therapeutics has an average rating of Buy and a consensus target price of $14.83.

Tango Therapeutics Stock Performance

Shares of TNGX opened at $6.91 on Friday. Tango Therapeutics has a 52 week low of $2.47 and a 52 week high of $13.03. The stock has a market capitalization of $738.31 million, a price-to-earnings ratio of -6.12 and a beta of 0.84. The stock has a fifty day moving average of $7.61 and a 200-day moving average of $9.29.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings results on Monday, March 18th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The firm had revenue of $5.43 million during the quarter, compared to the consensus estimate of $7.86 million. Tango Therapeutics had a negative net margin of 299.88% and a negative return on equity of 44.35%. As a group, equities analysts forecast that Tango Therapeutics will post -1.28 EPS for the current year.

Insider Buying and Selling

In related news, insider Mva Investors, Llc sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $7.61, for a total transaction of $456,600.00. Following the transaction, the insider now directly owns 483,524 shares of the company’s stock, valued at approximately $3,679,617.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 6.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tango Therapeutics

Several institutional investors have recently modified their holdings of the business. Artal Group S.A. bought a new position in shares of Tango Therapeutics in the first quarter valued at approximately $17,427,000. Paloma Partners Management Co bought a new position in shares of Tango Therapeutics in the first quarter valued at approximately $80,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Tango Therapeutics by 12.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock valued at $102,000 after acquiring an additional 1,426 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Tango Therapeutics by 3.4% in the first quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock valued at $24,462,000 after acquiring an additional 101,673 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Tango Therapeutics in the first quarter valued at approximately $272,000. 78.99% of the stock is owned by institutional investors.

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.