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

Tango Therapeutics, Inc. (NASDAQ:TNGX) has earned an average recommendation of “Buy” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have covered the stock in the last year is $13.14.

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

Insider Activity

In other news, insider Boxer Capital Management, Llc sold 625,000 shares of Tango Therapeutics stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $7.05, for a total value of $4,406,250.00. Following the transaction, the insider now owns 7,573,642 shares of the company’s stock, valued at $53,394,176.10. The trade was a 7.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mace Rothenberg bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were purchased at an average cost of $3.78 per share, with a total value of $37,800.00. Following the transaction, the director now directly owns 31,250 shares of the company’s stock, valued at $118,125. The trade was a 47.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 4,338,000 shares of company stock worth $18,426,160. 6.30% of the stock is currently owned by company insiders.

Institutional Trading of Tango Therapeutics

A number of institutional investors have recently made changes to their positions in the business. Barclays PLC raised its stake in Tango Therapeutics by 78.3% in the third quarter. Barclays PLC now owns 126,281 shares of the company’s stock valued at $972,000 after buying an additional 55,470 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Tango Therapeutics by 11.6% during the third 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. XTX Topco Ltd raised its position in shares of Tango Therapeutics by 340.1% in the 3rd quarter. XTX Topco Ltd now owns 44,191 shares of the company’s stock valued at $340,000 after purchasing an additional 34,150 shares during the last quarter. Sphera Funds Management LTD. acquired a new stake in Tango Therapeutics in the 3rd quarter worth approximately $385,000. Finally, State Street Corp grew its position in Tango Therapeutics by 26.8% during the 3rd quarter. State Street Corp now owns 2,318,208 shares of the company’s stock worth $17,850,000 after purchasing an additional 489,949 shares during the last quarter. Institutional investors and hedge funds own 78.99% of the company’s stock.

Tango Therapeutics Trading Down 9.6 %

NASDAQ:TNGX opened at $2.92 on Friday. The stock has a fifty day simple moving average of $3.43 and a 200-day simple moving average of $6.91. The company has a market cap of $313.66 million, a price-to-earnings ratio of -2.47 and a beta of 0.81. Tango Therapeutics has a twelve month low of $2.70 and a twelve month high of $13.01.

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.