Tango Therapeutics (NASDAQ:TNGX) Shares Down 5.8% – What’s Next?
by Jessica Moore · The Cerbat GemShares of Tango Therapeutics, Inc. (NASDAQ:TNGX – Get Free Report) were down 5.8% during mid-day trading on Friday . The company traded as low as $20.45 and last traded at $20.36. Approximately 975,648 shares were traded during trading, a decline of 70% from the average daily volume of 3,260,164 shares. The stock had previously closed at $21.62.
Wall Street Analyst Weigh In
TNGX has been the topic of a number of research analyst reports. Canaccord Genuity Group initiated coverage on Tango Therapeutics in a report on Thursday, April 2nd. They set a “buy” rating and a $30.00 price target on the stock. Stifel Nicolaus upped their price objective on shares of Tango Therapeutics from $24.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Jefferies Financial Group cut shares of Tango Therapeutics from a “buy” rating to a “hold” rating and raised their target price for the company from $18.00 to $27.00 in a research note on Thursday, May 14th. Leerink Partners boosted their price target on shares of Tango Therapeutics from $28.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Finally, Weiss Ratings raised shares of Tango Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 11th. Ten research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.27.
Get Our Latest Stock Analysis on Tango Therapeutics
Tango Therapeutics Price Performance
The business has a fifty day moving average of $21.91 and a 200-day moving average of $14.65. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of -24.49 and a beta of 1.22.
Tango Therapeutics (NASDAQ:TNGX – Get Free Report) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.32) earnings per share for the quarter, meeting the consensus estimate of ($0.32). Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 41.54%. As a group, research analysts anticipate that Tango Therapeutics, Inc. will post -1.34 EPS for the current year.
Insider Buying and Selling
In related news, insider Adam Crystal sold 27,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $21.23, for a total transaction of $573,210.00. Following the completion of the sale, the insider directly owned 115,743 shares in the company, valued at approximately $2,457,223.89. This trade represents a 18.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 179,056 shares of company stock worth $3,346,181 over the last ninety days. 6.50% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Tango Therapeutics
Several large investors have recently modified their holdings of TNGX. Global Retirement Partners LLC acquired a new position in shares of Tango Therapeutics in the 4th quarter worth $35,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Tango Therapeutics by 148,800.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,467 shares of the company’s stock valued at $40,000 after purchasing an additional 4,464 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in shares of Tango Therapeutics in the 4th quarter valued at $40,000. State of Wyoming acquired a new position in shares of Tango Therapeutics in the 1st quarter valued at $128,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Tango Therapeutics by 52.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,544 shares of the company’s stock worth $58,000 after purchasing an additional 2,243 shares in the last quarter. 78.99% of the stock is owned by institutional investors.
About Tango Therapeutics
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.