Tango Therapeutics (NASDAQ:TNGX) Issues Earnings Results

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

Tango Therapeutics Price Performance

TNGX stock traded up $0.22 during trading on Thursday, reaching $25.80. The company had a trading volume of 1,544,056 shares, compared to its average volume of 3,527,372. Tango Therapeutics has a 52 week low of $6.25 and a 52 week high of $34.39. The business has a 50 day moving average of $28.74 and a 200 day moving average of $22.12. The company has a market cap of $3.73 billion, a P/E ratio of -30.15 and a beta of 1.16.

Insider Buying and Selling 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 Wednesday, July 1st. The stock was sold at an average price of $29.59, for a total transaction of $798,930.00. Following the transaction, the insider owned 115,743 shares in the company, valued at approximately $3,424,835.37. This represents a 18.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. increased its stake in shares of Tango Therapeutics by 138.8% during the first quarter. Invesco Ltd. now owns 70,517 shares of the company’s stock valued at $97,000 after purchasing an additional 40,983 shares in the last quarter. AQR Capital Management LLC bought a new stake in Tango Therapeutics in the first quarter worth $195,000. Dynamic Technology Lab Private Ltd grew its stake in shares of Tango Therapeutics by 139.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company’s stock worth $35,000 after acquiring an additional 15,037 shares during the last quarter. Woodline Partners LP grew its stake in shares of Tango Therapeutics by 28.3% in the first quarter. Woodline Partners LP now owns 506,188 shares of the company’s stock worth $693,000 after acquiring an additional 111,791 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Tango Therapeutics by 270.6% during the first quarter. Jane Street Group LLC now owns 352,897 shares of the company’s stock valued at $483,000 after acquiring an additional 257,668 shares in the last quarter. Institutional investors own 78.99% of the company’s stock.

Wall Street Analysts Forecast Growth

TNGX has been the topic of several recent analyst reports. Jefferies Financial Group raised Tango Therapeutics from a “hold” rating to a “buy” rating and raised their target price for the stock from $27.00 to $60.00 in a research note on Thursday, June 25th. Leerink Partners upped their price target on Tango Therapeutics from $55.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Wolfe Research set a $35.00 price objective on Tango Therapeutics and gave the stock an “outperform” rating in a research report on Monday, June 8th. Wedbush boosted their target price on Tango Therapeutics from $19.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Finally, Raymond James Financial downgraded Tango Therapeutics to a “hold” rating in a report on Thursday, June 25th. Thirteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.31.

Tango Therapeutics Company Profile

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.