Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX – Get Free Report) were up 6.1% on Friday . The company traded as high as $29.25 and last traded at $29.3360. Approximately 316,615 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 3,701,445 shares. The stock had previously closed at $27.64.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on TNGX shares. Leerink Partners boosted their target price on shares of Tango Therapeutics from $55.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Mizuho set a $40.00 price target on shares of Tango Therapeutics in a research note on Friday. JPMorgan Chase & Co. assumed coverage on shares of Tango Therapeutics in a report on Wednesday. They set an “overweight” rating and a $46.00 price objective for the company. Weiss Ratings downgraded shares of Tango Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 29th. Finally, Wedbush raised their target price 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. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.15.
View Our Latest Stock Analysis on TNGX
Tango Therapeutics Stock Performance
Tango Therapeutics (NASDAQ:TNGX – Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.32) EPS for the quarter, meeting the consensus estimate of ($0.32). On average, equities analysts anticipate that Tango Therapeutics, Inc. will post -1.28 earnings per share for the current fiscal year.
Insider Transactions at Tango Therapeutics
In other Tango Therapeutics news, insider Adam Crystal sold 27,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total transaction of $798,930.00. Following the transaction, the insider directly owned 115,743 shares in the company, valued at $3,424,835.37. This represents a 18.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 81,000 shares of company stock worth $1,989,630. 6.50% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Tango Therapeutics
Several hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC bought a new position in shares of Tango Therapeutics during the fourth quarter valued at approximately $35,000. Dynamic Technology Lab Private Ltd raised its stake in Tango Therapeutics by 139.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock worth $35,000 after buying an additional 15,037 shares in the last quarter. Legal & General Group Plc raised its stake in Tango Therapeutics by 30.7% in the second quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock worth $36,000 after buying an additional 1,640 shares in the last quarter. ANTIPODES PARTNERS Ltd purchased a new stake in Tango Therapeutics during the fourth quarter worth $40,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Tango Therapeutics by 148,800.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company’s stock worth $40,000 after buying an additional 4,464 shares during the period. Hedge funds and other institutional investors 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.
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