Tango Therapeutics, Inc. (NASDAQ:TNGX) Given Average Recommendation of “Buy” by Analysts

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) have been assigned a consensus recommendation of “Buy” from the seven brokerages that are presently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $12.33.

A number of equities analysts recently issued reports on TNGX shares. Guggenheim dropped their price objective 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. Cantor Fitzgerald reissued an “overweight” rating on shares of Tango Therapeutics in a report on Thursday, December 5th. HC Wainwright reissued a “buy” rating and issued a $13.00 price objective on shares of Tango Therapeutics in a report on Friday, November 8th. Finally, B. Riley dropped their price objective on shares of Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, November 11th.

Tango Therapeutics Stock Down 6.4 %

Shares of NASDAQ TNGX opened at $2.18 on Friday. The firm’s 50-day moving average price is $2.88 and its 200-day moving average price is $5.38. The company has a market cap of $234.17 million, a PE ratio of -1.85 and a beta of 0.80. Tango Therapeutics has a 52-week low of $2.17 and a 52-week high of $12.02.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.03). Tango Therapeutics had a negative net margin of 284.42% and a negative return on equity of 49.64%. As a group, equities research analysts anticipate that Tango Therapeutics will post -1.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tango Therapeutics news, CEO Barbara Weber sold 9,778 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $2.99, for a total transaction of $29,236.22. Following the sale, the chief executive officer now owns 1,631,264 shares in the company, valued at approximately $4,877,479.36. This trade represents a 0.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 24,268 shares of company stock worth $72,561. Company insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new stake in Tango Therapeutics during the 4th quarter worth approximately $33,000. Quest Partners LLC raised its position in shares of Tango Therapeutics by 1,448.4% during the third quarter. Quest Partners LLC now owns 10,885 shares of the company’s stock valued at $84,000 after buying an additional 10,182 shares during the last quarter. Stonebrook Private Inc. bought a new stake in shares of Tango Therapeutics during the fourth quarter valued at approximately $34,000. Ameriprise Financial Inc. bought a new stake in shares of Tango Therapeutics during the fourth quarter valued at approximately $35,000. Finally, Sherbrooke Park Advisers LLC bought a new stake in shares of Tango Therapeutics during the fourth quarter valued at approximately $38,000. Institutional investors own 78.99% of the company’s stock.

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.