Tango Therapeutics (NASDAQ:TNGX) Stock Crosses Above Fifty Day Moving Average After Earnings Miss

Tango Therapeutics, Inc. (NASDAQ:TNGX) passed above its 50-day moving average during trading on Tuesday after the company announced better than expected quarterly earnings. The stock has a 50-day moving average of $23.35 and traded as high as $24.65. Tango Therapeutics shares last traded at $24.30, with a volume of 4,560,774 shares traded.

The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.04).

Tango Therapeutics News Roundup

Here are the key news stories impacting Tango Therapeutics this week:

• Positive Sentiment: A Phase 1/2 combination study of vopimetostat and daraxonrasib in second- and third-line pancreatic cancer reported an 82% objective response rate and 88% nine-month progression-free survival, with the regimen generally well tolerated. Tango expects to start a registrational Phase 3 trial in front-line MTAP-deleted pancreatic cancer in the first half of 2027. The company also reported $977.5 million in cash as of September 30. Tango Therapeutics Q3 2026 results and business highlights
• Positive Sentiment: JPMorgan raised its price target to $47 from $46 and maintained an Overweight rating, signaling continued optimism about TNGX’s prospects. JPMorgan analyst recommendations
• Neutral Sentiment: A report listed short interest at zero shares and a zero days-to-cover ratio. This unusually low reported figure offers little clear indication of investor positioning.
• Negative Sentiment: Tango reported a third-quarter loss of $0.39 per share, missing the analyst consensus estimate of a $0.35 loss by $0.04. Tango Therapeutics quarterly earnings press release
• Negative Sentiment: Wedbush cut its target to $40 from $45, while retaining an Outperform rating; HC Wainwright lowered its target to $67 from $68 but kept a Buy rating. The reductions temper the bullish analyst outlook, although both targets remain above the stock’s cited $24.30 price. Wedbush analyst recommendations HC Wainwright analyst recommendations

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TNGX shares. Mizuho lifted their price target on Tango Therapeutics from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Stifel Nicolaus set a $55.00 price objective on Tango Therapeutics in a research report on Friday, October 23rd. William Blair began coverage on Tango Therapeutics in a research note on Friday, October 16th. They issued an “outperform” rating on the stock. Zacks Research cut Tango Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 27th. Finally, Wall Street Zen downgraded Tango Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Thirteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $45.54.

Insider Activity

In related news, insider Adam Crystal sold 27,000 shares of Tango Therapeutics stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $24.47, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica Newcomb sold 8,200 shares of the stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $24.22, for a total value of $198,604.00. Following the sale, the insider owned 59,121 shares of the company’s stock, valued at approximately $1,431,910.62. The trade was a 12.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 47,231 shares of company stock worth $1,129,029 over the last ninety days. Company insiders own 6.50% of the company’s stock.

Institutional Trading of Tango Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. lifted its holdings in shares of Tango Therapeutics by 11.2% during the third quarter. Bessemer Group Inc. now owns 393,824 shares of the company’s stock valued at $9,826,000 after purchasing an additional 39,618 shares in the last quarter. ACT Capital Partners L.P. purchased a new stake in shares of Tango Therapeutics during the third quarter valued at $150,000. Fisher Asset Management LLC increased its holdings in Tango Therapeutics by 84.8% in the 3rd quarter. Fisher Asset Management LLC now owns 1,068,505 shares of the company’s stock worth $26,659,000 after buying an additional 490,347 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Tango Therapeutics by 4.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,734 shares of the company’s stock worth $336,000 after buying an additional 534 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Tango Therapeutics in the 3rd quarter worth about $215,000. Hedge funds and other institutional investors own 78.99% of the company’s stock.

Tango Therapeutics Stock Performance

The stock has a 50-day simple moving average of $23.35 and a two-hundred day simple moving average of $22.59. The firm has a market cap of $4.10 billion, a PE ratio of -17.74 and a beta of 1.26.

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.