Tango Therapeutics (NASDAQ:TNGX) Announces Earnings Results

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

Tango Therapeutics Price Performance

TNGX opened at $27.37 on Tuesday. The firm has a fifty day moving average price of $28.56 and a 200 day moving average price of $21.93. Tango Therapeutics has a 1 year low of $6.25 and a 1 year high of $34.39. The stock has a market cap of $3.96 billion, a P/E ratio of -32.93 and a beta of 1.16.

Insiders Place Their Bets

In other Tango Therapeutics news, insider Adam Crystal sold 27,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $29.59, for a total value of $798,930.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.50% of the company’s stock.

Institutional Trading of Tango Therapeutics

Several institutional investors have recently bought and sold shares of TNGX. Entropy Technologies LP purchased a new stake in shares of Tango Therapeutics during the fourth quarter worth approximately $131,000. LPL Financial LLC acquired a new stake in Tango Therapeutics during the 4th quarter worth $106,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Tango Therapeutics during the third quarter worth $95,000. Sei Investments Co. purchased a new stake in shares of Tango Therapeutics during the third quarter worth $84,000. Finally, BNP Paribas Financial Markets raised its position in shares of Tango Therapeutics by 75.3% in the third quarter. BNP Paribas Financial Markets now owns 15,090 shares of the company’s stock valued at $127,000 after buying an additional 6,481 shares during the last quarter. 78.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TNGX has been the topic of a number of research analyst reports. Mizuho upped their target price on shares of Tango Therapeutics from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Jefferies Financial Group raised Tango Therapeutics from a “hold” rating to a “buy” rating and increased their price objective for the stock from $27.00 to $60.00 in a research note on Thursday, June 25th. Weiss Ratings downgraded Tango Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 29th. Citigroup reissued a “buy” rating on shares of Tango Therapeutics in a research note on Monday, April 27th. Finally, UBS Group set a $55.00 price target on shares of Tango Therapeutics in a report on Thursday, May 14th. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.15.

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.