Tango Therapeutics, Inc. (NASDAQ:TNGX – Get Free Report) fell 5.8% on Thursday . The company traded as low as $6.33 and last traded at $6.39. 186,809 shares traded hands during trading, a decline of 75% from the average session volume of 742,793 shares. The stock had previously closed at $6.78.
Wall Street Analyst Weigh In
TNGX has been the topic of a number of research reports. Jefferies Financial Group began coverage on Tango Therapeutics in a research note on Wednesday, July 17th. They issued a “buy” rating and a $19.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tango Therapeutics in a research note on Tuesday, July 9th. Wedbush increased their target price on shares of Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price target on shares of Tango Therapeutics in a report on Tuesday, September 10th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tango Therapeutics has a consensus rating of “Buy” and an average price target of $15.14.
Tango Therapeutics Price Performance
Tango Therapeutics (NASDAQ:TNGX – Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.10. The company had revenue of $19.88 million for the quarter, compared to analysts’ expectations of $7.39 million. Tango Therapeutics had a negative return on equity of 44.73% and a negative net margin of 274.04%. As a group, sell-side analysts forecast that Tango Therapeutics, Inc. will post -1.27 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, major shareholder Rock Ventures Iv L.P. Third sold 67,400 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $10.53, for a total value of $709,722.00. Following the transaction, the insider now directly owns 16,859,075 shares of the company’s stock, valued at approximately $177,526,059.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 1,680,311 shares of company stock worth $17,042,393 in the last quarter. 6.20% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Tango Therapeutics
Institutional investors have recently bought and sold shares of the stock. Artal Group S.A. acquired a new position in shares of Tango Therapeutics during the 1st quarter valued at about $17,427,000. Boxer Capital LLC grew its holdings in Tango Therapeutics by 15.1% during the fourth quarter. Boxer Capital LLC now owns 8,198,642 shares of the company’s stock valued at $81,167,000 after purchasing an additional 1,075,000 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Tango Therapeutics in the second quarter worth $3,836,000. Mass General Brigham Inc acquired a new stake in shares of Tango Therapeutics in the first quarter worth $2,812,000. Finally, Vanguard Group Inc. grew its stake in Tango Therapeutics by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock valued at $24,462,000 after buying an additional 101,673 shares during the last quarter. 78.99% of the stock is currently owned by institutional investors.
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.
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