Leerink Partnrs Has Positive Outlook of TNGX FY2025 Earnings

Tango Therapeutics, Inc. (NASDAQ:TNGX) – Equities researchers at Leerink Partnrs raised their FY2025 earnings estimates for Tango Therapeutics in a report issued on Tuesday, November 4th. Leerink Partnrs analyst A. Berens now forecasts that the company will earn ($0.92) per share for the year, up from their previous estimate of ($0.95). The consensus estimate for Tango Therapeutics’ current full-year earnings is ($1.19) per share. Leerink Partnrs also issued estimates for Tango Therapeutics’ FY2026 earnings at ($1.31) EPS, FY2027 earnings at ($1.81) EPS and FY2028 earnings at ($1.35) EPS.

Several other research analysts also recently issued reports on TNGX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tango Therapeutics in a research note on Wednesday, October 8th. Guggenheim boosted their target price on shares of Tango Therapeutics from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Piper Sandler initiated coverage on shares of Tango Therapeutics in a research report on Monday, August 18th. They issued an “overweight” rating and a $11.00 price target for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a report on Monday, October 27th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Tango Therapeutics Trading Up 6.7%

Tango Therapeutics stock opened at $8.01 on Friday. The stock has a 50-day moving average price of $7.69 and a two-hundred day moving average price of $5.59. Tango Therapeutics has a 12 month low of $1.03 and a 12 month high of $9.70. The company has a market capitalization of $1.08 billion, a PE ratio of -8.61 and a beta of 1.66.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.12. Tango Therapeutics had a negative return on equity of 60.80% and a negative net margin of 151.15%.The business had revenue of $53.81 million for the quarter, compared to analyst estimates of $41.35 million.

Institutional Investors Weigh In On Tango Therapeutics

Large investors have recently modified their holdings of the company. Acadian Asset Management LLC lifted its holdings in Tango Therapeutics by 96.6% in the first quarter. Acadian Asset Management LLC now owns 973,309 shares of the company’s stock valued at $1,327,000 after buying an additional 478,203 shares during the period. Russell Investments Group Ltd. grew its holdings in Tango Therapeutics by 2,376.2% during the 1st quarter. Russell Investments Group Ltd. now owns 51,183 shares of the company’s stock worth $73,000 after acquiring an additional 49,116 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of Tango Therapeutics by 42.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 737,955 shares of the company’s stock worth $1,011,000 after acquiring an additional 220,529 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Tango Therapeutics by 9.9% in the 1st quarter. Bank of New York Mellon Corp now owns 113,233 shares of the company’s stock valued at $155,000 after purchasing an additional 10,213 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Tango Therapeutics in the 1st quarter valued at about $277,000. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 477,401 shares of the firm’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $10.15, for a total transaction of $4,845,620.15. Following the completion of the transaction, the insider owned 13,386,574 shares in the company, valued at approximately $135,873,726.10. This trade represents a 3.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 3,472,501 shares of company stock worth $26,350,320. Corporate insiders own 7.50% of the company’s stock.

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.