UPDATE: Tango Therapeutics Inc. (TNGX) PT Lowered to $16 at Goldman Sachs

Goldman Sachs analyst Chris Shibutani lowered the price target on Tango Therapeutics Inc. (NASDAQ: TNGX) to $16.00 (from $17.00) while maintaining a Buy rating.

The analyst comments "Tango Therapeutics (TNGX) reported 4Q21 results highlighting progress across the pipeline including the recent Fast Track Designation for lead asset TNG908 heading into Phase 1 in 2Q22. Candidate nominations and INDs for the SKT11 mutant targeting programs and the USP1 inhibitor remain on track through this year and next. We look forward to further preclinical data on TNG908 and the USP1 inhibitor mechanism at AACR in April. Minor model updates accounting for unsurprising financials lead us to remain Buy rated on TNGX shares with a 12-month price target of $16 (vs. $17 prior)."

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