Tango Therapeutics (NASDAQ:TNGX) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Tango Therapeutics (NASDAQ:TNGX) from a hold rating to a sell rating in a research note released on Saturday morning.

Other research analysts have also issued reports about the stock. Piper Sandler boosted their price target on shares of Tango Therapeutics from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Stifel Nicolaus increased their price objective on Tango Therapeutics from $15.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. HC Wainwright lifted their price objective on Tango Therapeutics from $13.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Guggenheim boosted their target price on Tango Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $18.00 target price on shares of Tango Therapeutics in a research note on Thursday, March 5th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.50.

Tango Therapeutics Trading Down 2.4%

TNGX stock opened at $18.96 on Friday. The firm has a 50 day moving average of $13.65 and a 200-day moving average of $10.34. The firm has a market capitalization of $2.71 billion, a P/E ratio of -21.79 and a beta of 1.76. Tango Therapeutics has a 12 month low of $1.03 and a 12 month high of $19.91.

Tango Therapeutics (NASDAQ:TNGX) last posted its earnings results on Thursday, March 5th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.02. Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 50.30%. Sell-side analysts predict that Tango Therapeutics will post -1.19 EPS for the current year.

Insider Activity at Tango Therapeutics

In related news, Director Barbara Weber sold 30,519 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total value of $374,162.94. Following the transaction, the director owned 1,629,254 shares of the company’s stock, valued at $19,974,654.04. This represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adam Crystal sold 54,345 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $12.77, for a total value of $693,985.65. Following the sale, the insider owned 132,873 shares in the company, valued at $1,696,788.21. The trade was a 29.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 133,884 shares of company stock valued at $1,724,622 over the last 90 days. 7.50% of the stock is owned by insiders.

Institutional Trading of Tango Therapeutics

Hedge funds have recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. grew its position in Tango Therapeutics by 322.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 10,607,924 shares of the company’s stock valued at $93,986,000 after acquiring an additional 8,096,924 shares during the last quarter. Caligan Partners LP bought a new stake in shares of Tango Therapeutics in the 4th quarter worth approximately $33,047,000. Goldman Sachs Group Inc. lifted its holdings in shares of Tango Therapeutics by 227.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,942,414 shares of the company’s stock worth $43,790,000 after acquiring an additional 3,432,939 shares during the last quarter. Logos Global Management LP boosted its stake in shares of Tango Therapeutics by 342.1% in the 4th quarter. Logos Global Management LP now owns 4,200,000 shares of the company’s stock valued at $37,212,000 after purchasing an additional 3,250,000 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP purchased a new stake in shares of Tango Therapeutics in the 3rd quarter valued at $25,924,000. Institutional investors own 78.99% of the company’s stock.

Tango Therapeutics Company Profile

Tango Therapeutics is a clinical-stage biotechnology company dedicated to developing precision medicines that exploit genetic vulnerabilities in cancer cells. Leveraging a proprietary synthetic lethality platform, the company identifies and targets tumor-specific dependencies in DNA damage response and related pathways. By focusing on tumor cell collateral sensitivities, Tango aims to bring differentiated small-molecule therapies to patients with genetic alterations that confer increased susceptibility to targeted inhibition.

The company’s lead pipeline comprises several early-stage programs, including inhibitors designed to selectively disable DNA repair proteins in tumor cells while sparing normal tissues.