Tango Therapeutics (NASDAQ:TNGX) Share Price Rises 3%

Tango Therapeutics, Inc. (NASDAQ:TNGX – Get Your Free Report ) was up 3% during mid-day trading on Wednesday. The company traded as high as $8.92 and last traded at $8.88. During trading, 19,843 shares were traded, down 97% from the session’s average volume of 725,387 shares. Shares previously closed at $8.62.

Changes in Analyst Ratings

Several research analysts have issued reports on TNGX shares. Barclays reduced their target price on shares of Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, May 24th. HC Wainwright reiterated a “buy” rating and issued a $13.00 target price on shares of Tango Therapeutics in a research report on Tuesday, September 10th. Guggenheim raised shares of Tango Therapeutics to a “strong-buy” rating in a report on Tuesday, May 28th. Jefferies Financial Group assumed coverage on shares of Tango Therapeutics in a research note on Wednesday, July 17th. They set a “buy” rating and a $19.00 price target on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Tango Therapeutics in a research note on Tuesday, July 9th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $15.14, according to MarketBeat .

Get the latest research report on Tango Therapeutics

Tango Therapeutics Stock Performance

The company has a market cap of $924.22 million, a P/E ratio of -7.63 and a beta of 0.84. The company’s fifty-day simple moving average is $10.00, and its 200-day simple moving average is $8.79.

Tango Therapeutics (NASDAQ:TNGX – Get Your Free Report ) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.10. Tango Therapeutics had a negative net margin of 274.04% and a negative return on equity of 44.73%. The business had revenue of $19.88 million for the quarter, compared to analysts’ expectations of $7.39 million. On average, sell-side analysts predict that Tango Therapeutics, Inc. will post -1.27 EPS for the current year.

Insider trading at Tango Therapeutics

In other Tango Therapeutics news, major shareholder Rock Ventures Iv LP Third sold 550,171 shares of Tango Therapeutics stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $9.79, for a total transaction of $5,386,174.09. Following the sale, the insider now owns 18,651,304 shares of the company’s stock, valued at approximately $182,596,266.16. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. In other news, major shareholder Rock Ventures Iv LP Third sold 550,171 shares of Tango Therapeutics stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $9.79, for a total transaction of $5,386,174.09. Following the transaction, the insider now owns 18,651,304 shares in the company, valued at approximately $182,596,266.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. Also, insider Mva Investors, Llc sold 110,731 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $8.87, for a total transaction of $982,183.97. Following the completion of the transaction, the insider now owns 203,793 shares in the company, valued at $1,807,643.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,820,042 shares of company stock worth $18,273,107. 6.20% of shares are owned by company insiders.

Hedge funds leverage Tango Therapeutics

Large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. purchased a new stake in Tango Therapeutics in the 4th quarter valued at about $719,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Tango Therapeutics in the 4th quarter valued at $237,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Tango Therapeutics in the 4th quarter valued at $136,000. RTW Investments LP purchased a new position in shares of Tango Therapeutics in the 4th quarter valued at about $19,471,000. Finally, Braslyn Ltd. purchased a new position in shares of Tango Therapeutics in the 4th quarter valued at approximately $267,000. 78.99% of shares are currently owned by institutional investors and hedge funds.

About Tango Therapeutics

(Get a free report)

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, which is being developed as a treatment for cancers with methylthioadenosine phosphorylase deletions.

Featured stories

Get news and reviews for Tango Therapeutics Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Tango Therapeutics and related companies with MarketBeat.com’s FREE daily email newsletter.