Tango Therapeutics (NASDAQ:TNGX) Trading 4.7% Higher – Still a Buy?

Tango Therapeutics, Inc. (NASDAQ:TNGX)’s share price rose 4.7% during trading on Tuesday . The company traded as high as $4.93 and last traded at $5.01. Approximately 373,285 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 1,474,168 shares. The stock had previously closed at $4.79.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $13.00 price objective on shares of Tango Therapeutics in a report on Monday, April 14th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Tango Therapeutics currently has an average rating of “Buy” and a consensus target price of $12.20.

Tango Therapeutics Stock Up 1.5%

The firm has a market cap of $527.01 million, a price-to-earnings ratio of -4.09 and a beta of 1.24. The business has a 50 day moving average of $2.09 and a 200 day moving average of $2.39.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.02). The company had revenue of $5.39 million for the quarter, compared to analyst estimates of $6.73 million. Tango Therapeutics had a negative net margin of 284.42% and a negative return on equity of 49.64%. Research analysts predict that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current year.

Hedge Funds Weigh In On Tango Therapeutics

A number of institutional investors have recently made changes to their positions in TNGX. Deutsche Bank AG lifted its stake in Tango Therapeutics by 24.1% during the fourth quarter. Deutsche Bank AG now owns 36,653 shares of the company’s stock worth $113,000 after purchasing an additional 7,128 shares during the last quarter. Ameriprise Financial Inc. acquired a new stake in Tango Therapeutics in the fourth quarter worth approximately $35,000. Northern Trust Corp grew its stake in shares of Tango Therapeutics by 7.1% in the 4th quarter. Northern Trust Corp now owns 513,079 shares of the company’s stock worth $1,585,000 after purchasing an additional 33,829 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Tango Therapeutics during the 4th quarter valued at $771,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Tango Therapeutics in the 4th quarter valued at $40,000. 78.99% of the stock is owned by institutional investors and hedge funds.

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.