HC Wainwright Reaffirms Buy Rating for Tango Therapeutics (NASDAQ:TNGX)

HC Wainwright reiterated their buy rating on shares of Tango Therapeutics (NASDAQ:TNGX) in a research note published on Tuesday morning, Benzinga reports. They currently have a $13.00 target price on the stock.

Several other equities research analysts also recently issued reports on TNGX. Cantor Fitzgerald began coverage on Tango Therapeutics in a report on Thursday, April 4th. They issued an overweight rating on the stock. Guggenheim raised Tango Therapeutics to a strong-buy rating in a research note on Tuesday, May 28th. Barclays lowered their target price on Tango Therapeutics from $18.00 to $13.00 and set an overweight rating for the company in a research note on Friday, May 24th. Finally, Wedbush lowered their target price on Tango Therapeutics from $18.00 to $11.00 and set an outperform rating for the company in a research note on Thursday, May 23rd. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Buy and an average price target of $14.17.

Tango Therapeutics Trading Up 4.1 %

TNGX stock opened at $9.61 on Tuesday. The company has a market capitalization of $1.03 billion, a PE ratio of -8.50 and a beta of 0.83. Tango Therapeutics has a 12-month low of $2.88 and a 12-month high of $13.03. The business’s fifty day moving average price is $8.01 and its 200 day moving average price is $9.22.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.04). The firm had revenue of $6.47 million during the quarter, compared to analysts’ expectations of $7.13 million. Tango Therapeutics had a negative net margin of 299.88% and a negative return on equity of 44.35%. Research analysts predict that Tango Therapeutics will post -1.31 EPS for the current fiscal year.

Insider Transactions at Tango Therapeutics

In other news, insider Mva Investors, Llc sold 60,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $7.61, for a total transaction of $456,600.00. Following the completion of 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 legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 337,731 shares of company stock valued at $2,700,684. 6.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TNGX. Artal Group S.A. acquired a new position in shares of Tango Therapeutics during the 1st quarter worth about $17,427,000. RTW Investments LP acquired a new stake in shares of Tango Therapeutics in the 4th quarter valued at about $19,471,000. Boxer Capital LLC boosted its position in shares of Tango Therapeutics by 15.1% in the 4th quarter. Boxer Capital LLC now owns 8,198,642 shares of the company’s stock valued at $81,167,000 after purchasing an additional 1,075,000 shares during the period. Mass General Brigham Inc acquired a new stake in shares of Tango Therapeutics in the 1st quarter valued at about $2,812,000. Finally, Vanguard Group Inc. boosted its position in shares of Tango Therapeutics by 7.2% in the 3rd quarter. Vanguard Group Inc. now owns 2,939,843 shares of the company’s stock valued at $33,103,000 after purchasing an additional 197,624 shares during the period. 78.99% of the stock is owned by institutional investors and hedge funds.

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.