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

Tango Therapeutics, Inc. (NASDAQ:TNGX) has received a consensus recommendation of “Buy” from the eight analysts that are presently covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $13.14.

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

Tango Therapeutics Stock Up 0.6 %

Shares of TNGX opened at $3.15 on Friday. Tango Therapeutics has a twelve month low of $2.70 and a twelve month high of $13.01. The company has a market capitalization of $338.37 million, a P/E ratio of -2.67 and a beta of 0.74. The firm has a 50 day moving average of $3.67 and a 200 day moving average of $7.14.

Insider Buying and Selling at Tango Therapeutics

In related news, Director Mace Rothenberg bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average cost of $3.78 per share, with a total value of $37,800.00. Following the acquisition, the director now owns 31,250 shares in the company, valued at $118,125. This trade represents a 47.06 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Boxer Capital Management, Llc sold 625,000 shares of Tango Therapeutics stock in a transaction 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 in the company, valued at $53,394,176.10. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,338,000 shares of company stock valued at $18,426,160. 6.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. State Street Corp raised its position in shares of Tango Therapeutics by 26.8% during the 3rd quarter. State Street Corp now owns 2,318,208 shares of the company’s stock valued at $17,850,000 after purchasing an additional 489,949 shares during the period. Point72 Asset Management L.P. purchased a new stake in Tango Therapeutics in the 2nd quarter worth $3,836,000. Geode Capital Management LLC raised its holdings in 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 during the period. Quarry LP purchased a new position in shares of Tango Therapeutics in the second quarter valued at about $99,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Tango Therapeutics in the second quarter valued at about $54,000. Institutional investors own 78.99% of the company’s stock.

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.