Tango Therapeutics (NASDAQ:TNGX) Announces Earnings Results

Tango Therapeutics (NASDAQ:TNGX) issued its quarterly earnings results on Wednesday. The company reported ($0.32) EPS for the quarter, hitting analysts’ consensus estimates of ($0.32), Zacks reports. Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 50.30%.

Tango Therapeutics Price Performance

Tango Therapeutics stock traded down $1.69 during mid-day trading on Thursday, hitting $23.83. The company’s stock had a trading volume of 1,145,882 shares, compared to its average volume of 3,213,810. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of -27.38 and a beta of 1.22. The business has a 50 day moving average price of $21.14 and a 200-day moving average price of $14.07. Tango Therapeutics has a 12 month low of $1.25 and a 12 month high of $28.41.

Insider Activity

In other news, insider Adam Crystal sold 54,345 shares of Tango Therapeutics stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $12.77, for a total value of $693,985.65. Following the transaction, the insider owned 132,873 shares in the company, valued at approximately $1,696,788.21. The trade was a 29.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 179,056 shares of company stock worth $3,346,181 over the last quarter. 6.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tango Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new position in Tango Therapeutics in the 4th quarter worth approximately $335,000. VARCOV Co. bought a new position in shares of Tango Therapeutics in the fourth quarter worth approximately $261,000. Virtus Investment Advisers LLC increased its stake in shares of Tango Therapeutics by 26.3% in the fourth quarter. Virtus Investment Advisers LLC now owns 28,452 shares of the company’s stock worth $252,000 after buying an additional 5,920 shares during the period. Tudor Investment Corp ET AL increased its stake in shares of Tango Therapeutics by 27.4% in the fourth quarter. Tudor Investment Corp ET AL now owns 68,251 shares of the company’s stock worth $605,000 after buying an additional 14,679 shares during the period. Finally, Sphera Funds Management LTD. bought a new stake in Tango Therapeutics during the 4th quarter valued at $4,825,000. 78.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Canaccord Genuity Group began coverage on Tango Therapeutics in a research note on Thursday, April 2nd. They issued a “buy” rating and a $30.00 target price on the stock. B. Riley Financial reaffirmed a “buy” rating on shares of Tango Therapeutics in a research note on Friday, March 27th. Guggenheim upped their price objective on Tango Therapeutics from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Citigroup reissued a “buy” rating on shares of Tango Therapeutics in a report on Monday, April 27th. Finally, Jefferies Financial Group downgraded Tango Therapeutics from a “buy” rating to a “hold” rating and set a $27.00 target price for the company. in a research report on Thursday. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $25.00.

About Tango Therapeutics

Tango Therapeutics is a clinical-stage biotechnology company dedicated to developing precision medicines that exploit genetic vulnerabilities in cancer cells. Leveraging a proprietary synthetic lethality platform, the company identifies and targets tumor-specific dependencies in DNA damage response and related pathways. By focusing on tumor cell collateral sensitivities, Tango aims to bring differentiated small-molecule therapies to patients with genetic alterations that confer increased susceptibility to targeted inhibition.

The company’s lead pipeline comprises several early-stage programs, including inhibitors designed to selectively disable DNA repair proteins in tumor cells while sparing normal tissues.