Tango Therapeutics (NASDAQ:TNGX) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Tango Therapeutics (NASDAQ:TNGX) posted its quarterly earnings results on Tuesday. The company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.05), FiscalAI reports.

Tango Therapeutics Price Performance

Shares of TNGX opened at $26.34 on Wednesday. The firm has a market capitalization of $3.81 billion, a P/E ratio of -31.73 and a beta of 1.16. Tango Therapeutics has a one year low of $6.25 and a one year high of $34.39. The business has a fifty day moving average of $28.66 and a 200 day moving average of $22.03.

Insiders Place Their Bets

In other Tango Therapeutics news, insider Adam Crystal sold 27,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $29.59, for a total value of $798,930.00. Following the transaction, the insider directly owned 115,743 shares of the company’s stock, valued at approximately $3,424,835.37. This trade represents a 18.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

Several institutional investors have recently made changes to their positions in TNGX. XTX Topco Ltd bought a new stake in Tango Therapeutics during the fourth quarter valued at approximately $335,000. VARCOV Co. bought a new position in Tango Therapeutics in the fourth quarter worth approximately $261,000. Virtus Investment Advisers LLC boosted its stake in shares of Tango Therapeutics by 26.3% during the 4th quarter. Virtus Investment Advisers LLC now owns 28,452 shares of the company’s stock worth $252,000 after acquiring an additional 5,920 shares during the last quarter. Tudor Investment Corp ET AL boosted its stake in shares of Tango Therapeutics by 27.4% during the 4th quarter. Tudor Investment Corp ET AL now owns 68,251 shares of the company’s stock worth $605,000 after acquiring an additional 14,679 shares during the last quarter. Finally, Sphera Funds Management LTD. bought a new stake in shares of Tango Therapeutics during the 4th quarter valued at $4,825,000. Institutional investors own 78.99% of the company’s stock.

Analysts Set New Price Targets

TNGX has been the topic of several analyst reports. B. Riley Financial reaffirmed a “buy” rating on shares of Tango Therapeutics in a research report on Monday, June 8th. Wedbush lifted their target price on Tango Therapeutics from $19.00 to $33.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Wolfe Research set a $35.00 price target on Tango Therapeutics and gave the stock an “outperform” rating in a research note on Monday, June 8th. Canaccord Genuity Group upped their price target on Tango Therapeutics from $42.00 to $46.00 and gave the company a “buy” rating in a report on Monday, June 29th. Finally, HC Wainwright increased their price objective on Tango Therapeutics from $27.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Thirteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $42.15.

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.