Tango Therapeutics (NASDAQ:TNGX) Shares Up 5.1%

Tango Therapeutics, Inc. (NASDAQ:TNGXGet Free Report)’s share price shot up 5.1% during trading on Monday . The stock traded as high as $9.00 and last traded at $9.00. 16,119 shares were traded during trading, a decline of 98% from the average session volume of 660,739 shares. The stock had previously closed at $8.56.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $13.00 price objective on shares of Tango Therapeutics in a research report on Tuesday. Barclays cut their price objective on Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a research report on Tuesday. Guggenheim upgraded Tango Therapeutics to a “strong-buy” rating in a research report on Tuesday, May 28th. Finally, Wedbush cut their price objective on Tango Therapeutics from $18.00 to $11.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tango Therapeutics currently has a consensus rating of “Buy” and an average price target of $14.17.

View Our Latest Report on TNGX

Tango Therapeutics Stock Up 9.3 %

The company has a market cap of $1.12 billion, a P/E ratio of -8.50 and a beta of 0.83. The business has a 50-day moving average price of $7.97 and a two-hundred day moving average price of $9.22.

Tango Therapeutics (NASDAQ:TNGXGet Free Report) last released its earnings results on Wednesday, May 8th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.04). The firm had revenue of $6.47 million for the quarter, compared to the consensus estimate of $7.13 million. Tango Therapeutics had a negative return on equity of 44.35% and a negative net margin of 299.88%. As a group, sell-side analysts expect that Tango Therapeutics, Inc. will post -1.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Mva Investors, Llc sold 29,000 shares of Tango Therapeutics stock in a transaction on Friday, June 28th. The stock was sold at an average price of $8.57, for a total transaction of $248,530.00. Following the completion of the sale, the insider now directly owns 314,524 shares of the company’s stock, valued at $2,695,470.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 337,731 shares of company stock valued at $2,700,684 over the last three months. Company insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Artal Group S.A. acquired a new stake in shares of Tango Therapeutics during the first quarter worth $17,427,000. Paloma Partners Management Co acquired a new position in Tango Therapeutics in the first quarter valued at about $80,000. Price T Rowe Associates Inc. MD grew its stake in Tango Therapeutics by 12.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock valued at $102,000 after acquiring an additional 1,426 shares during the period. Vanguard Group Inc. grew its stake in Tango Therapeutics by 3.4% in the first quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock valued at $24,462,000 after acquiring an additional 101,673 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Tango Therapeutics in the first quarter valued at about $272,000. 78.99% of the stock is owned by institutional investors and hedge funds.

Tango Therapeutics Company Profile

(Get Free Report)

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.

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