Tango Therapeutics (NASDAQ:TNGX) Trading Down 3.8%

Tango Therapeutics, Inc. (NASDAQ:TNGX)’s stock price was down 3.8% during trading on Friday . The stock traded as low as $7.05 and last traded at $7.09. Approximately 100,257 shares were traded during trading, a decline of 85% from the average daily volume of 652,385 shares. The stock had previously closed at $7.37.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TNGX shares. Cantor Fitzgerald started coverage on Tango Therapeutics in a report on Thursday, April 4th. They set an “overweight” rating for the company. HC Wainwright upped their target price on Tango Therapeutics from $16.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Piper Sandler started coverage on Tango Therapeutics in a report on Monday, February 12th. They set an “overweight” rating and a $18.00 target price for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $18.00 target price 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 data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $17.25.

Tango Therapeutics Stock Performance

The firm has a market capitalization of $780.27 million, a P/E ratio of -6.65 and a beta of 0.83. The business has a fifty day moving average of $9.42 and a 200-day moving average of $9.44.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings data on Monday, March 18th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $5.43 million during the quarter, compared to the consensus estimate of $7.86 million. On average, equities research analysts forecast that Tango Therapeutics, Inc. will post -1.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Barbara Weber sold 4,681 shares of the 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 $58,793.36. Following the completion of the transaction, the chief executive officer now directly owns 1,539,624 shares of the company’s stock, valued at approximately $19,337,677.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Tango Therapeutics news, CEO Barbara Weber sold 4,681 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 1,539,624 shares of the company’s stock, valued at approximately $19,337,677.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $12.00, for a total value of $1,950,000.00. Following the transaction, the insider now directly owns 19,201,475 shares of the company’s stock, valued at $230,417,700. The disclosure for this sale can be found here. Insiders sold 174,731 shares of company stock valued at $2,103,703 in the last three months. 6.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tango Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada bought a new position in Tango Therapeutics during the 1st quarter valued at $32,000. AJOVista LLC acquired a new stake in shares of Tango Therapeutics during the 4th quarter valued at $61,000. Virtus ETF Advisers LLC acquired a new stake in shares of Tango Therapeutics during the 4th quarter valued at $90,000. Cowen AND Company LLC acquired a new stake in shares of Tango Therapeutics during the 4th quarter valued at $99,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of Tango Therapeutics during the 2nd quarter valued at $50,000. 78.99% of the stock is owned by institutional investors.

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.