HC Wainwright Reaffirms Buy Rating for Tango Therapeutics

HC Wainwright has reiterated its buy rating for Tango Therapeutics, Inc. (NasdaqGM: TNGX), setting a price target of $66. This announcement came from analyst Robert Burns on June 9, 2026. Shares of Tango Therapeutics were trading at $29.81 at the time of this report.

Other Institutional Activity in Tango Therapeutics

Several institutional investors have shown interest in Tango Therapeutics. RTW Investments, LP significantly increased its holdings by 11,809,392 shares, ending with 13,300,620 shares valued at approximately $278.2 million. Adage Capital Partners GP, L.L.C. also boosted its stake by 2,201,561 shares, holding 12,809,485 shares worth about $268 million. Meanwhile, Farallon Capital Management LLC reduced its position by 3,964,000 shares, resulting in 9,097,411 shares valued at $190.3 million.

Tango Therapeutics, Inc. Stock Up 32.6%

Tango Therapeutics is currently trading near $29.81 on the NasdaqGM. The company holds a market cap of roughly $5.04 billion. Despite its negative earnings per share of -0.83, it has a forward P/E ratio of -19.74, reflecting its unprofitability. The stock's beta is 1.194, indicating moderate volatility compared to the broader market. Over the past year, the stock has ranged from a low of $4.40 to a high of $32.79, with a 50-day moving average of $23.50 and a 200-day moving average of $13.85.

Recent Earnings

For its most recent earnings, Tango Therapeutics reported revenue of $56.99 million. Despite this, the company faces challenges with a negative net margin of -188.15% and a return on equity of -38.42%. The next earnings report is expected on May 13, 2026.

Insider Buying and Selling at Tango Therapeutics, Inc.

On June 5, 2026, several insiders bought shares of Tango Therapeutics. Mace Rothenberg acquired 29,000 shares, Sung Lee purchased 570 shares, Lesley Ann Calhoun bought 25,000 shares, and John Ketchum added 29,000 shares to their holdings. These transactions were not part of any pre-planned trading programs.

Analysts Set New Price Targets

On June 9, 2026, HC Wainwright & Co. maintained its buy rating with a $66 price target. Canaccord Genuity also maintained its buy rating, setting a $42 target on the same day. Leerink Partners reaffirmed their buy rating with a $69 target on June 8, 2026. The consensus among analysts is a strong buy, with an average target price of $40.45 based on 11 opinions.

About Tango Therapeutics

Tango Therapeutics, Inc. is a precision oncology company headquartered in Boston, Massachusetts. Founded in 2017, it focuses on discovering and developing drugs for specific patient groups with unmet medical needs. The company is working on several innovative treatments, including TNG462, a PRMT5 inhibitor for pancreatic and lung cancer, and TNG260, aimed at addressing immune evasion in lung cancer. Dr. Malte Peters, M.D., leads the company, which employs 137 people.

Bottom Line

HC Wainwright's reaffirmation of its buy rating for Tango Therapeutics highlights continued confidence in the company's future prospects. Investors and analysts are closely watching Tango's progress in cancer treatment development. As a reminder, analyst ratings are forward-looking opinions and may not reflect the current market conditions.