Tango Therapeutics price target lowered to $8 from $18 at Guggenheim

Guggenheim lowered the firm’s price target on Tango Therapeutics (TNGX) to $8 from $18 and keeps a Buy rating on the shares after the company reported quarterly results and provided a clinical update on its PRMT5 inhibitors, TNG908 and TNG462. The update “clearly fell short of investor expectations,” but the firm keeps a Buy rating on shares as the focus shifts to disclosure of more mature data in 2025, adding that it thinks the risk/reward is “more favorable” given the selloff in shares.