Tango Therapeutics (NASDAQ:TNGX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Tango Therapeutics (NASDAQ:TNGX) from a hold rating to a buy rating in a research report sent to investors on Saturday.

TNGX has been the topic of several other research reports. Stifel Nicolaus began coverage on Tango Therapeutics in a report on Wednesday, December 3rd. They issued a “buy” rating and a $15.00 price target on the stock. B. Riley upped their price objective on Tango Therapeutics from $8.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Tango Therapeutics in a research report on Wednesday, October 8th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a report on Monday, October 27th. Finally, Wolfe Research began coverage on Tango Therapeutics in a research report on Tuesday, November 18th. They set a “peer perform” rating on the stock. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $13.00.

Tango Therapeutics Stock Performance

TNGX opened at $9.12 on Friday. The firm has a 50 day moving average price of $8.71 and a 200 day moving average price of $7.11. Tango Therapeutics has a 1 year low of $1.03 and a 1 year high of $11.20. The company has a market cap of $1.23 billion, a PE ratio of -9.81 and a beta of 1.71.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.12. Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 60.80%. The company had revenue of $53.81 million for the quarter, compared to analyst estimates of $41.35 million. On average, sell-side analysts predict that Tango Therapeutics will post -1.19 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Rock Ventures Iv L.P. Third sold 500,000 shares of the business’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $8.02, for a total value of $4,010,000.00. Following the completion of the sale, the insider directly owned 13,863,975 shares in the company, valued at approximately $111,189,079.50. The trade was a 3.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Tango Therapeutics

Several large investors have recently bought and sold shares of the stock. Farallon Capital Management LLC raised its position in shares of Tango Therapeutics by 17.5% during the third quarter. Farallon Capital Management LLC now owns 10,757,000 shares of the company’s stock valued at $90,359,000 after buying an additional 1,600,000 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in shares of Tango Therapeutics in the 2nd quarter worth approximately $30,235,000. Vanguard Group Inc. lifted its position in shares of Tango Therapeutics by 25.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,052,003 shares of the company’s stock worth $42,437,000 after acquiring an additional 1,025,203 shares during the period. Balyasny Asset Management L.P. grew its holdings in shares of Tango Therapeutics by 6.9% during the 3rd quarter. Balyasny Asset Management L.P. now owns 3,472,207 shares of the company’s stock worth $29,167,000 after purchasing an additional 224,744 shares in the last quarter. Finally, Nantahala Capital Management LLC increased its position in shares of Tango Therapeutics by 15.1% during the second quarter. Nantahala Capital Management LLC now owns 3,439,594 shares of the company’s stock valued at $17,611,000 after purchasing an additional 451,611 shares during the period. 78.99% of the stock is currently 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.