Cantor Fitzgerald Weighs in on Tango Therapeutics, Inc.’s FY2024 Earnings (NASDAQ:TNGX)

Tango Therapeutics, Inc. (NASDAQ:TNGX) – Equities researchers at Cantor Fitzgerald issued their FY2024 earnings estimates for shares of Tango Therapeutics in a research report issued on Tuesday, April 9th. Cantor Fitzgerald analyst E. Schmidt expects that the company will earn ($1.28) per share for the year. Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for Tango Therapeutics’ current full-year earnings is ($1.28) per share.

A number of other equities research analysts have also weighed in on TNGX. HC Wainwright raised their price objective on Tango Therapeutics from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Piper Sandler started coverage on shares of Tango Therapeutics in a research report on Monday, February 12th. They set an “overweight” rating and a $18.00 price target for the company. Finally, Wedbush reaffirmed an “outperform” rating and issued a $18.00 price target on shares of Tango Therapeutics in a report on Monday, March 18th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $17.25.

Tango Therapeutics Trading Down 3.0 %

NASDAQ TNGX opened at $7.36 on Friday. The stock has a market cap of $785.46 million, a P/E ratio of -6.69 and a beta of 0.83. The company’s fifty day simple moving average is $9.94 and its 200-day simple moving average is $9.58. Tango Therapeutics has a 52 week low of $2.47 and a 52 week high of $13.03.

Insider Activity

In related news, insider Adam Crystal sold 4,288 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $12.56, for a total transaction of $53,857.28. Following the transaction, the insider now directly owns 123,561 shares in the company, valued at $1,551,926.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of the company’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 completion of the transaction, the insider now directly owns 19,201,475 shares of the company’s stock, valued at $230,417,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adam Crystal sold 4,288 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 value of $53,857.28. Following the completion of the sale, the insider now directly owns 123,561 shares in the company, valued at approximately $1,551,926.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 174,731 shares of company stock worth $2,103,703. 6.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tango Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada acquired a new stake in shares of Tango Therapeutics in the 1st quarter worth about $32,000. Two Sigma Securities LLC acquired a new stake in shares of Tango Therapeutics in the second quarter valued at approximately $40,000. Renaissance Technologies LLC bought a new stake in shares of Tango Therapeutics during the third quarter valued at approximately $41,000. XTX Topco Ltd bought a new stake in Tango Therapeutics during the 1st quarter valued at $44,000. Finally, HRT Financial LP acquired a new stake in Tango Therapeutics in the first quarter worth about $45,000. 78.99% of the stock is currently owned by institutional investors.

About Tango Therapeutics

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.