Tango Therapeutics (NASDAQ:TNGX) Issues Quarterly Earnings Results, Misses Expectations By $0.04 EPS

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

Tango Therapeutics Price Performance

Shares of TNGX opened at $21.50 on Monday. The stock has a market capitalization of $3.63 billion, a P/E ratio of -25.29 and a beta of 1.26. The firm has a fifty day simple moving average of $23.34 and a two-hundred day simple moving average of $22.48. Tango Therapeutics has a twelve month low of $7.37 and a twelve month high of $34.39.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Stifel Nicolaus set a $55.00 target price on shares of Tango Therapeutics in a research report on Friday, October 23rd. William Blair assumed coverage on Tango Therapeutics in a research note on Friday, October 16th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. started coverage on Tango Therapeutics in a report on Wednesday, July 15th. They set an “overweight” rating and a $46.00 target price for the company. HC Wainwright restated a “buy” rating and set a $68.00 price target on shares of Tango Therapeutics in a research report on Thursday, October 29th. Finally, Mizuho raised their price target on Tango Therapeutics from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Thirteen 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 company’s stock. Based on data from MarketBeat, Tango Therapeutics has an average rating of “Moderate Buy” and an average price target of $44.62.

Insiders Place Their Bets

In related news, insider Adam Crystal sold 5,000 shares of the business’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $22.42, for a total transaction of $112,100.00. Following the transaction, the insider owned 115,743 shares in the company, valued at $2,594,958.06. The trade was a 4.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica Newcomb sold 7,031 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $22.42, for a total transaction of $157,635.02. Following the transaction, the insider directly owned 52,090 shares in the company, valued at approximately $1,167,857.80. The trade was a 11.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 47,231 shares of company stock worth $1,129,029. Insiders own 6.50% of the company’s stock.

About Tango Therapeutics

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.