Tango Therapeutics (NASDAQ:TNGX) Reaches New 52-Week High – Time to Buy?

Tango Therapeutics, Inc. (NASDAQ:TNGX)’s stock price reached a new 52-week high on Monday . The stock traded as high as $18.16 and last traded at $18.16, with a volume of 412080 shares. The stock had previously closed at $17.30.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TNGX. Piper Sandler upped their price objective on Tango Therapeutics from $11.00 to $14.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Tango Therapeutics in a report on Wednesday, January 21st. Guggenheim upped their price target on shares of Tango Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Wall Street Zen cut shares of Tango Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Wolfe Research assumed coverage on shares of Tango Therapeutics in a research report on Tuesday, November 18th. They issued a “peer perform” rating for the company. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.50.

Tango Therapeutics Price Performance

The stock has a 50-day moving average price of $13.03 and a 200-day moving average price of $9.99. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -21.47 and a beta of 1.76.

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 return on equity of 50.30% and a negative net margin of 151.15%. Equities analysts forecast that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current year.

Insider Buying and Selling at Tango Therapeutics

In other news, CFO Daniella Beckman sold 10,317 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total transaction of $126,486.42. Following the completion of the sale, the chief financial officer owned 184,297 shares in the company, valued at approximately $2,259,481.22. This trade represents a 5.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Adam Crystal sold 54,345 shares of Tango Therapeutics stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $12.77, for a total transaction of $693,985.65. Following the sale, the insider directly owned 132,873 shares of the company’s stock, 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 worth $1,724,622 over the last ninety days. Insiders own 7.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TNGX. Seven Fleet Capital Management LP acquired a new stake in Tango Therapeutics during the fourth quarter worth approximately $1,906,000. XTX Topco Ltd acquired a new position in shares of Tango Therapeutics in the fourth quarter valued at approximately $335,000. VARCOV Co. acquired a new position in shares of Tango Therapeutics in the fourth quarter valued at approximately $261,000. Virtus Investment Advisers LLC increased its stake in shares of Tango Therapeutics by 26.3% during the fourth quarter. Virtus Investment Advisers LLC now owns 28,452 shares of the company’s stock worth $252,000 after purchasing an additional 5,920 shares during the period. Finally, Tudor Investment Corp ET AL increased its stake in shares of Tango Therapeutics by 27.4% during the fourth quarter. Tudor Investment Corp ET AL now owns 68,251 shares of the company’s stock worth $605,000 after purchasing an additional 14,679 shares during the period. 78.99% of the stock is owned by institutional investors.

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.