Tango Therapeutics (NASDAQ:TNGX) Releases Earnings Results

Tango Therapeutics (NASDAQ:TNGX) posted its earnings results on Monday. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.04), FiscalAI reports.

Tango Therapeutics Price Performance

NASDAQ:TNGX opened at $21.50 on Monday. Tango Therapeutics has a one year low of $7.37 and a one year high of $34.39. The company has a market cap of $3.63 billion, a PE ratio of -25.29 and a beta of 1.26. The firm’s 50 day simple moving average is $23.34 and its 200 day simple moving average is $22.48.

Insider Activity at Tango Therapeutics

In other Tango Therapeutics news, insider Jessica Newcomb sold 8,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $24.22, for a total value of $198,604.00. Following the completion of the transaction, the insider directly owned 59,121 shares in the company, valued at approximately $1,431,910.62. This represents a 12.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Adam Crystal sold 27,000 shares of the firm’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $24.47, for a total transaction of $660,690.00. Following the transaction, the insider directly owned 115,743 shares of the company’s stock, valued at $2,832,231.21. The trade was a 18.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 47,231 shares of company stock valued at $1,129,029. Corporate insiders own 6.50% of the company’s stock.

Analysts Set New Price Targets

TNGX has been the subject of a number of research reports. Wall Street Zen cut Tango Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Mizuho raised their price objective on Tango Therapeutics from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Guggenheim boosted their price objective on Tango Therapeutics from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Weiss Ratings raised Tango Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $68.00 target price on shares of Tango Therapeutics in a report on Thursday, October 29th. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Tango Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $44.62.

Tango Therapeutics Company Profile

Tango Therapeutics is a biotechnology company focused on discovering and developing precision medicines for cancer. Based in Cambridge, Massachusetts, the company aims to develop treatments that exploit genetic differences between cancer cells and healthy cells.

Its research centers on synthetic lethality, an approach that seeks to identify vulnerabilities created when cancer cells lose or alter particular genes. Tango uses this strategy to find drug targets and develop investigational therapies for tumors with specific genetic alterations.

Founded in 2017, Tango was established to apply advances in cancer genetics and functional genomics to drug discovery.