Tango Therapeutics (NASDAQ:TNGX) Hits New 12-Month High – Time to Buy?

Tango Therapeutics, Inc. (NASDAQ:TNGX) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $13.46 and last traded at $12.51, with a volume of 4188442 shares. The stock had previously closed at $13.01.

Wall Street Analysts Forecast Growth

TNGX has been the subject of a number of recent analyst reports. B. Riley raised their price objective on Tango Therapeutics from $8.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of Tango Therapeutics in a report on Wednesday, October 8th. Wolfe Research began coverage on shares of Tango Therapeutics in a report on Tuesday, November 18th. They set a “peer perform” rating on the stock. Wall Street Zen upgraded shares of Tango Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Finally, Guggenheim upped their price target on shares of Tango Therapeutics from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $13.60.

Tango Therapeutics Price Performance

The stock has a fifty day moving average of $9.68 and a 200 day moving average of $8.09. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of -13.45 and a beta of 1.75.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.13 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $41.35 million. As a group, equities analysts expect that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current fiscal year.

Insider Transactions at Tango Therapeutics

In related news, major shareholder Rock Ventures Iv L.P. Third sold 477,401 shares of the business’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $10.15, for a total transaction of $4,845,620.15. Following the completion of the transaction, the insider directly owned 13,386,574 shares in the company, valued at $135,873,726.10. The trade was a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tango Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of TNGX. Vivo Capital LLC acquired a new stake in Tango Therapeutics during the second quarter worth about $3,072,000. Geode Capital Management LLC grew its stake in shares of Tango Therapeutics by 27.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,768,913 shares of the company’s stock worth $9,058,000 after purchasing an additional 385,476 shares during the period. Stempoint Capital LP purchased a new position in shares of Tango Therapeutics during the 2nd quarter valued at approximately $1,069,000. Candriam S.C.A. acquired a new position in shares of Tango Therapeutics in the 2nd quarter valued at $3,629,000. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in Tango Therapeutics by 91.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 20,369 shares of the company’s stock worth $104,000 after buying an additional 9,737 shares in the last quarter. Institutional investors and hedge funds own 78.99% of the company’s stock.

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.