Wedbush Issues Positive Forecast for Tango Therapeutics (NASDAQ:TNGX) Stock Price

by · The Markets Daily

Tango Therapeutics (NASDAQ:TNGX – Get Free Report) had its price target boosted by stock analysts at Wedbush from $15.00 to $19.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price target suggests a potential upside of 13.10% from the company’s previous close.

TNGX has been the subject of several other research reports. B. Riley Financial upped their price objective on shares of Tango Therapeutics from $8.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. 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 note on Friday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tango Therapeutics in a report on Wednesday, January 21st. Stifel Nicolaus started coverage on Tango Therapeutics in a report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 target price on the stock. Finally, HC Wainwright upped their target price on Tango Therapeutics from $13.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.25.

Check Out Our Latest Stock Analysis on TNGX

Tango Therapeutics Stock Performance

Shares of TNGX stock opened at $16.80 on Friday. Tango Therapeutics has a 1 year low of $1.03 and a 1 year high of $16.97. The firm has a market capitalization of $2.26 billion, a PE ratio of -18.06 and a beta of 1.76. The stock has a fifty day moving average of $11.70 and a two-hundred day moving average of $9.37.

Insider Buying and Selling

In other Tango Therapeutics news, CFO Daniella Beckman sold 10,317 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total value of $126,486.42. Following the transaction, the chief financial officer owned 184,297 shares of the company’s stock, valued at approximately $2,259,481.22. This represents a 5.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barbara Weber sold 30,519 shares of the stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $12.26, for a total value of $374,162.94. Following the sale, the director owned 1,629,254 shares of the company’s stock, valued at $19,974,654.04. This trade represents a 1.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 113,633 shares of company stock worth $1,420,857 in the last ninety days. 7.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tango Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. boosted its position in shares of 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 period. Caligan Partners LP purchased a new stake in Tango Therapeutics during the fourth quarter valued at about $33,047,000. Goldman Sachs Group Inc. boosted its holdings in shares of Tango Therapeutics by 227.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,942,414 shares of the company’s stock worth $43,790,000 after buying an additional 3,432,939 shares during the period. Logos Global Management LP increased its position in shares of Tango Therapeutics by 342.1% in the fourth quarter. Logos Global Management LP now owns 4,200,000 shares of the company’s stock worth $37,212,000 after acquiring an additional 3,250,000 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP acquired a new stake in shares of Tango Therapeutics during the third quarter valued at approximately $25,924,000. 78.99% of the stock is owned by institutional investors and hedge funds.

About Tango Therapeutics

(Get Free Report)

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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