Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX – Get Free Report) were down 4.7% during mid-day trading on Friday after Guggenheim lowered their price target on the stock from $16.00 to $14.00. Guggenheim currently has a buy rating on the stock. Tango Therapeutics traded as low as $6.68 and last traded at $6.76. Approximately 85,654 shares traded hands during trading, a decline of 86% from the average daily volume of 618,163 shares. The stock had previously closed at $7.09.
A number of other equities analysts have also weighed in on TNGX. Cantor Fitzgerald started coverage on Tango Therapeutics in a research note on Thursday, April 4th. They set an “overweight” rating on the stock. Wedbush dropped their target price on Tango Therapeutics from $18.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday. Barclays dropped their target price on shares of Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating for the company in a report on Friday. Piper Sandler began coverage on Tango Therapeutics in a report on Monday, February 12th. They set an “overweight” rating and a $18.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and set a $17.00 target price on shares of Tango Therapeutics in a report on Thursday, May 9th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tango Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $14.83.
Insiders Place Their Bets
In related news, insider Mva Investors, Llc sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $7.61, for a total transaction of $456,600.00. Following the completion of the transaction, the insider now owns 483,524 shares in the company, valued at $3,679,617.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 6.20% of the company’s stock.
Institutional Trading of Tango Therapeutics
A number of hedge funds have recently made changes to their positions in the business. AJOVista LLC bought a new position in Tango Therapeutics in the 4th quarter valued at approximately $61,000. Cowen AND Company LLC bought a new stake in Tango Therapeutics during the fourth quarter worth $99,000. Paloma Partners Management Co purchased a new stake in shares of Tango Therapeutics in the first quarter valued at about $80,000. China Universal Asset Management Co. Ltd. grew its stake in Tango Therapeutics by 421.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,793 shares of the company’s stock valued at $117,000 after purchasing an additional 9,530 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Tango Therapeutics by 12.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock valued at $102,000 after buying an additional 1,426 shares during the period. 78.99% of the stock is owned by institutional investors and hedge funds.
Tango Therapeutics Trading Down 2.5 %
The stock’s 50-day moving average price is $7.66 and its two-hundred day moving average price is $9.29. The stock has a market capitalization of $738.33 million, a P/E ratio of -6.12 and a beta of 0.84.
Tango Therapeutics (NASDAQ:TNGX – Get Free Report) last posted its quarterly earnings data on Monday, March 18th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The company had revenue of $5.43 million during the quarter, compared to the consensus estimate of $7.86 million. Tango Therapeutics had a negative return on equity of 44.35% and a negative net margin of 299.88%. On average, equities research analysts predict that Tango Therapeutics, Inc. will post -1.33 earnings per share for the current year.
About Tango Therapeutics
Tango Therapeutics, Inc, a biotechnology company, discovers and develops drugs for the treatment of cancer. Its lead program is TNG908, a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 that is being developed as a treatment for cancers with methylthioadenosine phosphorylase deletions.