Tango Therapeutics (NASDAQ:TNGX) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Tango Therapeutics (NASDAQ:TNGX) released its quarterly earnings data on Monday. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.02), Zacks reports. The business had revenue of $5.39 million for the quarter, compared to analysts’ expectations of $6.73 million. Tango Therapeutics had a negative net margin of 284.42% and a negative return on equity of 49.64%.

Tango Therapeutics Stock Up 1.9%

Shares of Tango Therapeutics stock traded up $0.03 on Tuesday, hitting $1.34. 36,635 shares of the company traded hands, compared to its average volume of 728,742. The company has a market cap of $144.32 million, a PE ratio of -1.13 and a beta of 1.02. Tango Therapeutics has a 12-month low of $1.03 and a 12-month high of $12.02. The company has a 50-day moving average price of $1.49 and a 200 day moving average price of $2.63.

Institutional Trading of Tango Therapeutics

An institutional investor recently raised its position in Tango Therapeutics stock. Invesco Ltd. boosted its position in Tango Therapeutics, Inc. (NASDAQ:TNGX) by 138.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,517 shares of the company’s stock after purchasing an additional 40,983 shares during the quarter. Invesco Ltd. owned about 0.07% of Tango Therapeutics worth $97,000 at the end of the most recent reporting period. Institutional investors own 78.99% of the company’s stock.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and set a $13.00 price objective on shares of Tango Therapeutics in a report on Monday, April 14th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $12.33.

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.