Tango Therapeutics’ (TNGX) Buy Rating Reaffirmed at HC Wainwright

Tango Therapeutics (NASDAQ:TNGX)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They currently have a $17.00 price objective on the stock. HC Wainwright’s price target indicates a potential upside of 114.92% from the stock’s previous close.

Several other brokerages have also recently issued reports on TNGX. Cantor Fitzgerald assumed coverage on Tango Therapeutics in a report on Thursday, April 4th. They issued an “overweight” rating on the stock. 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. Finally, Wedbush reiterated an “outperform” rating and set a $18.00 target price on shares of Tango Therapeutics in a research report on Monday, March 18th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tango Therapeutics presently has a consensus rating of “Buy” and an average price target of $17.25.

Tango Therapeutics Price Performance

Shares of TNGX opened at $7.91 on Thursday. The firm has a market cap of $844.31 million, a P/E ratio of -7.19 and a beta of 0.84. Tango Therapeutics has a 1 year low of $2.47 and a 1 year high of $13.03. The company has a 50 day simple moving average of $8.36 and a two-hundred day simple moving average of $9.34.

Tango Therapeutics (NASDAQ:TNGX) last issued its earnings results on Monday, March 18th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The company had revenue of $5.43 million for the quarter, compared to the consensus estimate of $7.86 million. Tango Therapeutics had a negative return on equity of 41.96% and a negative net margin of 278.55%. On average, sell-side analysts anticipate that Tango Therapeutics will post -1.28 earnings per share for the current year.

Insider Activity

In other news, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $12.00, for a total value of $1,950,000.00. Following the sale, the insider now owns 19,201,475 shares of the company’s stock, valued at $230,417,700. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.00, for a total value of $1,950,000.00. Following the sale, the insider now directly owns 19,201,475 shares in the company, valued at $230,417,700. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mva Investors, Llc sold 60,000 shares of the firm’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 value of $456,600.00. Following the sale, the insider now directly owns 483,524 shares of the company’s stock, valued at $3,679,617.64. The disclosure for this sale can be found here. Insiders sold 297,500 shares of company stock valued at $2,963,850 in the last ninety days. Insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. AJOVista LLC purchased a new stake in shares of Tango Therapeutics in the 4th quarter worth $61,000. Cowen AND Company LLC bought a new stake in shares of Tango Therapeutics in the fourth quarter valued at about $99,000. China Universal Asset Management Co. Ltd. lifted its stake in Tango Therapeutics by 421.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,793 shares of the company’s stock worth $117,000 after acquiring an additional 9,530 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Tango Therapeutics during the 4th quarter worth about $136,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Tango Therapeutics by 570.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,902 shares of the company’s stock valued at $138,000 after purchasing an additional 11,829 shares during the period. 78.99% of the stock is currently 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.