Canaccord Genuity Reaffirms Buy Rating on Tango Therapeutics
Canaccord Genuity maintains a buy rating on Tango Therapeutics with a $46 price target, a 47.15% upside from the current price.
Key Points
- Canaccord Genuity reiterated its buy rating on Tango Therapeutics, Inc. (TNGX) with a price target of $46 on June 29, 2026.
- Canaccord Genuity's $46 price target implies 47.15% upside from Tango Therapeutics, Inc.'s ($TNGX) current $31.26 share price.
- Shares of Tango Therapeutics traded at $31.47 on Monday, with a market cap of $5.12 billion and a 52-week high of $34.39.
- Recent insider buying at Tango Therapeutics included several transactions by key insiders, and analyst consensus remains strong buy.
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Canaccord Genuity has reiterated its buy rating for Tango Therapeutics, Inc. (NasdaqGM: TNGX), setting a price target of $46. This reaffirmation came on June 29, 2026, as analyst John Newman continues to see potential in the biotechnology firm. Shares of Tango Therapeutics were trading at $31.47 on Monday.
Canaccord Genuity vs. the S&P 500
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Other Institutional Activity in Tango Therapeutics
RTW Investments, LP significantly increased its holdings in Tango Therapeutics, adding 11,809,392 shares to reach a total of 13,300,620 shares valued at about $278.2 million. Adage Capital Partners GP, L.L.C. also boosted its stake by 2,201,561 shares, ending with 12,809,485 shares worth approximately $267.9 million, marking a 20.8% increase. Meanwhile, Boxer Capital Management, LLC maintained its position with 10,876,219 shares valued at $227.5 million. TCG Crossover Management, LLC reduced its holdings by 2,231,023 shares, leaving it with 10,531,071 shares valued at around $220.3 million, a 17.5% decrease. FMR LLC increased its position by 7,038,371 shares, now holding 9,905,919 shares worth $207.2 million, reflecting a 245.4% increase.
Tango Therapeutics, Inc. Stock Up 33.9%
Shares of Tango Therapeutics, Inc. traded near $31.47 on Monday. The company has a market cap of approximately $5.12 billion. Despite not being profitable, it has a forward P/E ratio of -19.92. Tango's beta is 1.194, indicating somewhat higher volatility compared to the market. The stock's 52-week range is between $4.80 and $34.39. Its 50-day moving average is $25.09, while the 200-day moving average is $14.91. The company shows a strong liquidity position with a current ratio of 27.38 and a quick ratio of 26.51, alongside a debt-to-equity ratio of 8.38.
$TNGX price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Tango Therapeutics reported revenue of $56.99 million, though it is currently operating at a net margin of -188.15%. The return on equity stands at -38.42%, reflecting the challenges of its current financial performance. The company is set to release its next earnings report on August 5, 2026.
Insider Buying and Selling at Tango Therapeutics, Inc.
Recent insider activity at Tango Therapeutics shows significant buying. On June 19, 2026, Robert Azelby acquired 5,740 and 35,910 shares. Earlier in the month, on June 5, Mace Rothenberg purchased 4,000 shares, Sung Lee bought 570 shares, Lesley Ann Calhoun acquired 25,000 shares, and John Ketchum added 25,000 shares to their holdings. These transactions were not part of planned trading programs.
Analysts Set New Price Targets
On June 29, 2026, Canaccord Genuity maintained its buy rating on Tango Therapeutics with a price target of $46. Just a few days prior, on June 26, Jefferies upgraded the stock to a buy with a $60 target. HC Wainwright & Co. also maintained a buy rating with a $66 target on June 9. The consensus among analysts remains strong buy, with a mean target price of $43.45 based on 11 opinions.
About Tango Therapeutics
Tango Therapeutics, Inc. is a precision oncology company headquartered in Boston, Massachusetts. It focuses on discovering and developing drugs for specific patient groups with unmet medical needs. The company is working on several inhibitors, including those targeting pancreatic, lung, and brain cancers. Founded in 2017, Tango is led by CEO Dr. Malte Peters and employs about 137 people.
Bottom Line
Canaccord Genuity's reaffirmation of a buy rating and a $46 target price suggests continued optimism for Tango Therapeutics' growth potential. Investors often track such analyst ratings for insights, though it's important to remember that these ratings are one of many factors to consider. This report reflects the analysts' view as of June 2026 and may not indicate future performance.
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