Tango Therapeutics (NASDAQ:TNGX) Stock Price Expected to Rise, Leerink Partners Analyst Says

Tango Therapeutics (NASDAQ:TNGX) had its price target lifted by stock analysts at Leerink Partners from $28.00 to $55.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Leerink Partners’ target price would indicate a potential upside of 167.51% from the company’s previous close.

Several other equities analysts have also issued reports on the stock. Piper Sandler lifted their target price on shares of Tango Therapeutics from $11.00 to $14.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Canaccord Genuity Group began coverage on shares of Tango Therapeutics in a report on Thursday, April 2nd. They set a “buy” rating and a $30.00 target price for the company. HC Wainwright lifted their target price on shares of Tango Therapeutics from $13.00 to $27.00 and gave the company a “buy” rating in a report on Friday, March 6th. B. Riley Financial reiterated a “buy” rating on shares of Tango Therapeutics in a report on Friday, March 27th. Finally, Mizuho raised their price target on shares of Tango Therapeutics from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, March 11th. Ten research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $32.27.

Tango Therapeutics Price Performance

Shares of TNGX opened at $20.56 on Thursday. Tango Therapeutics has a one year low of $1.40 and a one year high of $28.41. The company has a 50-day simple moving average of $21.58 and a two-hundred day simple moving average of $14.24. The firm has a market capitalization of $2.97 billion, a PE ratio of -24.77 and a beta of 1.22.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.32) EPS for the quarter, hitting the consensus estimate of ($0.32). Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 41.54%. Analysts expect that Tango Therapeutics will post -1.35 EPS for the current fiscal year.

Insider Buying and Selling at Tango Therapeutics

In related news, insider Adam Crystal sold 27,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $21.23, for a total transaction of $573,210.00. Following the completion of the sale, the insider owned 115,743 shares of the company’s stock, valued at $2,457,223.89. This trade represents a 18.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 179,056 shares of company stock worth $3,346,181 over the last ninety days. 6.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tango Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new stake in Tango Therapeutics in the 4th quarter worth approximately $35,000. Dynamic Technology Lab Private Ltd boosted its stake in shares of Tango Therapeutics by 139.7% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock worth $35,000 after acquiring an additional 15,037 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Tango Therapeutics by 30.7% during the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock worth $36,000 after acquiring an additional 1,640 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 acquiring an additional 4,464 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd purchased a new position in shares of Tango Therapeutics during the 4th quarter worth $40,000. 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.