Tango Therapeutics (NASDAQ:TNGX) Price Target Cut to $13.00 by Analysts at Barclays

Tango Therapeutics (NASDAQ:TNGX) had its price objective trimmed by Barclays from $18.00 to $13.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also weighed in on TNGX. Cantor Fitzgerald started coverage on shares of Tango Therapeutics in a research note on Thursday, April 4th. They issued an overweight rating for the company. Wedbush dropped their price target on Tango Therapeutics from $18.00 to $11.00 and set an outperform rating for the company in a research note on Thursday. Piper Sandler assumed coverage on Tango Therapeutics in a report on Monday, February 12th. They set an overweight rating and a $18.00 price target for the company. Finally, HC Wainwright reissued a buy rating and issued a $17.00 target price on shares of Tango Therapeutics in a research report on Thursday, May 9th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of Buy and a consensus price target of $14.83.

Tango Therapeutics Stock Down 2.5 %

TNGX stock traded down $0.18 on Friday, hitting $6.91. 707,524 shares of the company’s stock traded hands, compared to its average volume of 530,815. Tango Therapeutics has a 1-year low of $2.47 and a 1-year high of $13.03. The stock has a fifty day moving average of $7.61 and a 200-day moving average of $9.28.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings data on Monday, March 18th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The business 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 44.35% and a negative net margin of 299.88%. Equities research analysts forecast that Tango Therapeutics will post -1.33 earnings per share for the current fiscal year.

Insider Transactions at Tango Therapeutics

In related news, insider Mva Investors, Llc sold 75,000 shares of Tango Therapeutics stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $7.43, for a total transaction of $557,250.00. Following the completion of the sale, the insider now owns 618,524 shares in the company, valued at approximately $4,595,633.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Clear Harbor Asset Management LLC lifted its holdings in shares of Tango Therapeutics by 5.3% in the fourth quarter. Clear Harbor Asset Management LLC now owns 21,200 shares of the company’s stock valued at $210,000 after buying an additional 1,069 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Tango Therapeutics by 12.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock worth $102,000 after acquiring an additional 1,426 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Tango Therapeutics by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 16,474 shares of the company’s stock worth $163,000 after buying an additional 4,177 shares during the period. SG Americas Securities LLC increased its holdings in Tango Therapeutics by 16.0% during the 1st quarter. SG Americas Securities LLC now owns 30,429 shares of the company’s stock valued at $242,000 after purchasing an additional 4,203 shares in the last quarter. Finally, AJOVista LLC acquired a new stake in shares of Tango Therapeutics in the 4th quarter valued at $61,000. 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.