Tango Therapeutics (NASDAQ:TNGX) Releases Earnings Results, Hits Estimates

Tango Therapeutics (NASDAQ:TNGX) released its quarterly earnings data on Wednesday. The company reported ($0.32) EPS for the quarter, meeting 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 Stock Up 8.6%

Shares of Tango Therapeutics stock traded up $2.01 during trading on Wednesday, hitting $25.51. 3,298,182 shares of the stock traded hands, compared to its average volume of 3,243,069. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of -29.32 and a beta of 1.22. Tango Therapeutics has a 52 week low of $1.25 and a 52 week high of $28.41. The firm’s fifty day moving average is $20.86 and its 200-day moving average is $13.95.

Analyst Upgrades and Downgrades

Several research analysts have commented on TNGX shares. Wall Street Zen downgraded shares of Tango Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. B. Riley Financial reissued a “buy” rating on shares of Tango Therapeutics in a research note on Friday, March 27th. Citigroup reiterated a “buy” rating on shares of Tango Therapeutics in a research report on Monday, April 27th. Weiss Ratings raised shares of Tango Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Finally, HC Wainwright lifted their target price on shares of Tango Therapeutics from $13.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.44.

Insider Transactions at Tango Therapeutics

In other Tango Therapeutics news, insider Adam Crystal sold 27,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $21.23, for a total value of $573,210.00. Following the completion of the sale, the insider owned 115,743 shares of the company’s stock, valued at $2,457,223.89. This represents a 18.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 179,056 shares of company stock valued at $3,346,181 over the last ninety days. 6.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tango Therapeutics

A number of hedge funds have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd grew its holdings in shares of Tango Therapeutics by 139.7% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock valued at $35,000 after purchasing an additional 15,037 shares during the last quarter. Global Retirement Partners LLC bought a new stake in Tango Therapeutics in the fourth quarter worth $35,000. Legal & General Group Plc boosted its position in Tango Therapeutics by 30.7% during the second quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock valued at $36,000 after buying an additional 1,640 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Tango Therapeutics by 44.3% during the second quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company’s stock valued at $49,000 after buying an additional 2,907 shares during the last quarter. Finally, Northeast Financial Consultants Inc bought a new position in shares of Tango Therapeutics during the second quarter valued at about $51,000. 78.99% of the stock is currently owned by institutional investors.

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.