Tango Therapeutics, Inc. Forecasted to Post Q1 2024 Earnings of ($0.33) Per Share (NASDAQ:TNGX)

Tango Therapeutics, Inc. (NASDAQ:TNGX) – Equities research analysts at B. Riley issued their Q1 2024 earnings per share estimates for shares of Tango Therapeutics in a report issued on Monday, April 15th. B. Riley analyst Y. Zhi forecasts that the company will post earnings of ($0.33) per share for the quarter. The consensus estimate for Tango Therapeutics’ current full-year earnings is ($1.28) per share. B. Riley also issued estimates for Tango Therapeutics’ Q3 2024 earnings at ($0.34) EPS and Q4 2024 earnings at ($0.35) EPS.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings data on Monday, March 18th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The company had revenue of $5.43 million for the quarter, compared to analyst estimates of $7.86 million. Tango Therapeutics had a negative return on equity of 41.96% and a negative net margin of 278.55%.

Other analysts have also issued reports about the stock. HC Wainwright upped their price target on shares of Tango Therapeutics from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Piper Sandler began coverage on Tango Therapeutics in a research note on Monday, February 12th. They issued an “overweight” rating and a $18.00 price target on the stock. Cantor Fitzgerald began coverage on shares of Tango Therapeutics in a report on Thursday, April 4th. They set an “overweight” rating for the company. Finally, Wedbush reissued an “outperform” rating and issued a $18.00 price target on shares of Tango Therapeutics in a report on Monday, March 18th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $17.25.

Tango Therapeutics Stock Down 1.2 %

Shares of TNGX opened at $7.37 on Wednesday. The company has a 50 day moving average of $9.52 and a 200-day moving average of $9.47. Tango Therapeutics has a twelve month low of $2.47 and a twelve month high of $13.03. The stock has a market capitalization of $786.53 million, a P/E ratio of -6.70 and a beta of 0.83.

Institutional Investors Weigh In On Tango Therapeutics

Large investors have recently bought and sold shares of the company. Royal Bank of Canada bought a new stake in shares of Tango Therapeutics during the 1st quarter worth approximately $32,000. Two Sigma Securities LLC acquired a new position in Tango Therapeutics during the second quarter worth about $40,000. Renaissance Technologies LLC bought a new position in shares of Tango Therapeutics in the third quarter worth about $41,000. XTX Topco Ltd acquired a new stake in shares of Tango Therapeutics in the 1st quarter valued at approximately $44,000. Finally, HRT Financial LP bought a new stake in shares of Tango Therapeutics during the 1st quarter valued at approximately $45,000. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of Tango Therapeutics stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.00, for a total value of $1,950,000.00. Following the completion of the sale, the insider now directly owns 19,201,475 shares in the company, valued at $230,417,700. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Barbara Weber sold 4,681 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $12.56, for a total transaction of $58,793.36. Following the sale, the chief executive officer now directly owns 1,539,624 shares of the company’s stock, valued at approximately $19,337,677.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $12.00, for a total value of $1,950,000.00. Following the completion of the transaction, the insider now owns 19,201,475 shares in the company, valued at approximately $230,417,700. The disclosure for this sale can be found here. Insiders have sold a total of 174,731 shares of company stock worth $2,103,703 in the last quarter. Corporate insiders own 6.20% of the company’s stock.

Tango Therapeutics Company Profile

Tango Therapeutics, Inc, a biotechnology company, discovers and develops drugs for the treatment of cancer. Its lead program is TNG908, a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 that is being developed as a treatment for cancers with methylthioadenosine phosphorylase deletions.