Tango Therapeutics (NASDAQ:TNGX – Get Free Report) had its price target boosted by stock analysts at Leerink Partners from $28.00 to $55.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Leerink Partners’ price target suggests a potential upside of 119.57% from the stock’s previous close.
TNGX has been the topic of several other reports. Wall Street Zen lowered shares of Tango Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Citigroup reaffirmed a “buy” rating on shares of Tango Therapeutics in a report on Monday, April 27th. Weiss Ratings upgraded Tango Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Canaccord Genuity Group started coverage on Tango Therapeutics in a report on Thursday, April 2nd. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, HC Wainwright boosted their price objective on Tango Therapeutics from $13.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Eleven investment 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.00.
Read Our Latest Stock Report on TNGX
Tango Therapeutics Stock Down 1.8%
Tango Therapeutics (NASDAQ:TNGX – Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.32) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.32). Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 50.30%. On average, equities research analysts predict that Tango Therapeutics will post -1.35 EPS for the current fiscal year.
Insider Activity at Tango Therapeutics
In related news, insider Adam Crystal sold 27,000 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 115,743 shares in the company, valued at $2,457,223.89. This represents a 18.92% decrease in their position. The transaction was disclosed in a document filed 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 three months. 6.50% of the stock is owned by insiders.
Hedge Funds Weigh In On Tango Therapeutics
A number of hedge funds have recently made changes to their positions in the company. Farallon Capital Management LLC boosted its stake in shares of Tango Therapeutics by 21.4% in the fourth quarter. Farallon Capital Management LLC now owns 13,061,411 shares of the company’s stock worth $115,724,000 after acquiring an additional 2,304,411 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Tango Therapeutics by 322.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 10,607,924 shares of the company’s stock valued at $93,986,000 after purchasing an additional 8,096,924 shares during the last quarter. Siren L.L.C. lifted its holdings in Tango Therapeutics by 38.8% in the 4th quarter. Siren L.L.C. now owns 8,165,374 shares of the company’s stock valued at $72,345,000 after purchasing an additional 2,282,186 shares in the last quarter. Vanguard Group Inc. boosted its stake in Tango Therapeutics by 33.6% during the 4th quarter. Vanguard Group Inc. now owns 6,750,977 shares of the company’s stock worth $59,814,000 after purchasing an additional 1,698,974 shares during the last quarter. Finally, State Street Corp boosted its stake in Tango Therapeutics by 84.8% during the 4th quarter. State Street Corp now owns 6,218,567 shares of the company’s stock worth $55,097,000 after purchasing an additional 2,853,362 shares during the last quarter. Institutional investors and hedge funds 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.
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