Tango Therapeutics (NASDAQ:TNGX) Reaches New 52-Week High on Analyst Upgrade

Tango Therapeutics, Inc. (NASDAQ:TNGX) hit a new 52-week high during mid-day trading on Monday after HC Wainwright raised their price target on the stock from $27.00 to $66.00. HC Wainwright currently has a buy rating on the stock. Tango Therapeutics traded as high as $29.70 and last traded at $28.7090, with a volume of 2715375 shares. The stock had previously closed at $20.22.

A number of other brokerages have also issued reports on TNGX. Weiss Ratings lowered shares of Tango Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, May 28th. Mizuho set a $36.00 price target on shares of Tango Therapeutics in a research note on Monday. Wedbush raised their price objective on shares of Tango Therapeutics from $19.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Guggenheim upped their target price on shares of Tango Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, March 6th. Finally, Piper Sandler downgraded shares of Tango Therapeutics from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $16.00 to $24.00 in a research note on Thursday, May 14th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.42.

Insider Buying and Selling

In other news, insider Adam Crystal sold 38,460 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $25.00, for a total value of $961,500.00. Following the completion of the sale, the insider owned 112,622 shares in the company, valued at approximately $2,815,550. This trade represents a 25.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 131,460 shares of company stock worth $2,965,920. 6.50% of the stock is currently owned by corporate insiders.

Tango Therapeutics News Summary

Here are the key news stories impacting Tango Therapeutics this week:

• Positive Sentiment: Early Phase 1/2 data showed a 92% objective response rate and a 90% 6-month progression-free survival rate in pancreatic cancer patients, with the combination generally well tolerated. Article Title
• Positive Sentiment: Tango said the results support advancing the vopimetostat/daraxonrasib program into Phase 3 development, which strengthens the company’s pipeline narrative and potential long-term commercial outlook. Article Title
• Positive Sentiment: Several reports noted analyst upgrades and higher price targets after the data, reinforcing the view that the study results were better than expected. Article Title
• Neutral Sentiment: The company also announced a proposed $500 million public offering, which could add cash for development but may dilute existing shareholders if completed. Article Title
• Negative Sentiment: Short-interest data appears unreliable in the feed and does not clearly indicate a meaningful change in bearish positioning.

Institutional Trading of Tango Therapeutics

Several hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC acquired a new position in Tango Therapeutics during the fourth quarter worth $35,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Tango Therapeutics by 148,800.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company’s stock worth $40,000 after purchasing an additional 4,464 shares during the period. ANTIPODES PARTNERS Ltd purchased a new position in shares of Tango Therapeutics in the 4th quarter valued at about $40,000. State of Wyoming acquired a new stake in shares of Tango Therapeutics in the first quarter valued at about $128,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Tango Therapeutics by 52.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,544 shares of the company’s stock valued at $58,000 after purchasing an additional 2,243 shares during the period. 78.99% of the stock is owned by institutional investors and hedge funds.

Tango Therapeutics Stock Up 2.0%

The business’s fifty day moving average is $22.90 and its 200 day moving average is $15.99. The stock has a market cap of $4.57 billion, a PE ratio of -38.02 and a beta of 1.19.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.32). Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 41.54%. As a group, analysts predict that Tango Therapeutics, Inc. will post -1.29 EPS for the current year.

About Tango Therapeutics

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.