B. Riley Forecasts Higher Earnings for Tango Therapeutics

Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) - Research analysts at B. Riley lifted their FY2024 earnings per share (EPS) estimates for Tango Therapeutics in a note issued to investors on Monday, November 11th. B. Riley analyst Y. Zhi now expects that the company will post earnings per share of ($1.21) for the year, up from their prior forecast of ($1.29). B. Riley currently has a "Buy" rating and a $8.00 target price on the stock. The consensus estimate for Tango Therapeutics' current full-year earnings is ($1.20) per share. B. Riley also issued estimates for Tango Therapeutics' Q4 2024 earnings at ($0.36) EPS and FY2025 earnings at ($1.49) EPS.

Other equities research analysts have also recently issued research reports about the company. Wedbush raised their price objective on Tango Therapeutics from $11.00 to $13.00 and gave the company an "outperform" rating in a research note on Thursday, August 8th. Jefferies Financial Group began coverage on shares of Tango Therapeutics in a research note on Wednesday, July 17th. They issued a "buy" rating and a $19.00 target price on the stock. HC Wainwright restated a "buy" rating and set a $13.00 price target on shares of Tango Therapeutics in a research report on Friday, November 8th. Finally, Guggenheim decreased their target price on Tango Therapeutics from $18.00 to $8.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $13.14.

Tango Therapeutics Stock Performance

Shares of TNGX traded up $0.45 during mid-day trading on Thursday, reaching $4.01. 3,664,379 shares of the company were exchanged, compared to its average volume of 964,223. The business has a 50 day simple moving average of $6.94 and a two-hundred day simple moving average of $8.20. Tango Therapeutics has a 52 week low of $2.70 and a 52 week high of $13.01. The stock has a market capitalization of $430.75 million, a PE ratio of -3.28 and a beta of 0.88.

Insiders Place Their Bets

In related news, insider Boxer Capital Management, Llc sold 3,080,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $3.14, for a total transaction of $9,671,200.00. Following the transaction, the insider now owns 3,610,642 shares in the company, valued at $11,337,415.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 135,000 shares of the company's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $9.79, for a total transaction of $1,321,650.00. Following the sale, the insider now directly owns 17,351,475 shares in the company, valued at $169,870,940.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Boxer Capital Management, Llc sold 3,080,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $3.14, for a total value of $9,671,200.00. Following the completion of the sale, the insider now owns 3,610,642 shares in the company, valued at approximately $11,337,415.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,965,400 shares of company stock valued at $25,156,782. Insiders own 6.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TNGX. Artal Group S.A. purchased a new stake in shares of Tango Therapeutics during the 1st quarter worth $17,427,000. Point72 Asset Management L.P. acquired a new stake in shares of Tango Therapeutics during the 2nd quarter valued at about $3,836,000. Walleye Capital LLC purchased a new stake in Tango Therapeutics in the 3rd quarter worth $1,098,000. Vanguard Group Inc. increased its holdings in Tango Therapeutics by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company's stock worth $24,462,000 after acquiring an additional 101,673 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Tango Therapeutics by 42.5% during the second quarter. Dimensional Fund Advisors LP now owns 335,913 shares of the company's stock worth $2,882,000 after buying an additional 100,257 shares in the last quarter. Institutional investors own 78.99% of the company's stock.

About Tango Therapeutics

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.