Tango Therapeutics, Inc. Forecasted to Earn Q1 2024 Earnings of ($0.33) Per Share (NASDAQ:TNGX)

Tango Therapeutics, Inc. (NASDAQ:TNGX) – Investment analysts at B. Riley issued their Q1 2024 earnings per share estimates for shares of Tango Therapeutics in a research report issued on Monday, April 15th. B. Riley analyst Y. Zhi expects that the company will earn ($0.33) per share for the quarter. The consensus estimate for Tango Therapeutics’ current full-year earnings is ($1.28) per share. B. Riley also issued estimates for Tango Therapeutics’ Q3 2024 earnings at ($0.34) EPS and Q4 2024 earnings at ($0.35) EPS.

Tango Therapeutics (NASDAQ:TNGX) last posted its earnings results on Monday, March 18th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.04). Tango Therapeutics had a negative return on equity of 41.96% and a negative net margin of 278.55%. The firm had revenue of $5.43 million for the quarter, compared to analyst estimates of $7.86 million.

TNGX has been the topic of a number of other research reports. HC Wainwright increased their price target on Tango Therapeutics from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Piper Sandler began coverage on Tango Therapeutics in a research report on Monday, February 12th. They issued an “overweight” rating and a $18.00 price target on the stock. Cantor Fitzgerald began coverage on Tango Therapeutics in a research report on Thursday, April 4th. They issued an “overweight” rating on the stock. Finally, Wedbush reaffirmed an “outperform” rating and issued a $18.00 price target on shares of Tango Therapeutics in a research report on Monday, March 18th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tango Therapeutics currently has a consensus rating of “Buy” and an average price target of $17.25.

Tango Therapeutics Stock Performance

TNGX stock traded up $0.11 during mid-day trading on Wednesday, reaching $7.46. The company had a trading volume of 475,262 shares, compared to its average volume of 660,822. The company has a market capitalization of $796.13 million, a price-to-earnings ratio of -6.68 and a beta of 0.83. The firm has a fifty day simple moving average of $9.73 and a 200 day simple moving average of $9.50. Tango Therapeutics has a fifty-two week low of $2.47 and a fifty-two week high of $13.03.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its stake in shares of Tango Therapeutics by 12.3% in the 3rd quarter. FMR LLC now owns 11,645,741 shares of the company’s stock valued at $131,131,000 after purchasing an additional 1,276,945 shares during the last quarter. Boxer Capital LLC grew its stake in shares of Tango Therapeutics by 15.1% in the 4th quarter. Boxer Capital LLC now owns 8,198,642 shares of the company’s stock valued at $81,167,000 after purchasing an additional 1,075,000 shares during the last quarter. BlackRock Inc. grew its stake in shares of Tango Therapeutics by 2.4% in the 2nd quarter. BlackRock Inc. now owns 3,622,476 shares of the company’s stock valued at $12,027,000 after purchasing an additional 83,564 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Tango Therapeutics by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 2,979,212 shares of the company’s stock valued at $29,494,000 after purchasing an additional 39,369 shares during the last quarter. Finally, RTW Investments LP purchased a new position in shares of Tango Therapeutics in the 4th quarter valued at approximately $19,471,000. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.00, for a total transaction of $1,950,000.00. Following the transaction, the insider now owns 19,201,475 shares in the company, valued at approximately $230,417,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Barbara Weber sold 4,681 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $12.56, for a total transaction of $58,793.36. Following the transaction, the chief executive officer now owns 1,539,624 shares in the company, valued at approximately $19,337,677.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.00, for a total value of $1,950,000.00. Following the transaction, the insider now owns 19,201,475 shares in the company, valued at approximately $230,417,700. The disclosure for this sale can be found here. Insiders have sold 174,731 shares of company stock worth $2,103,703 in the last quarter. 6.20% of the stock is owned by insiders.

Tango Therapeutics Company Profile

Tango Therapeutics, Inc, a biotechnology company, discovers and develops drugs for the treatment of cancer. Its lead program is TNG908, a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 that is being developed as a treatment for cancers with methylthioadenosine phosphorylase deletions.