Leerink Partnrs Brokers Increase Earnings Estimates for TNGX

Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) - Equities research analysts at Leerink Partnrs increased their FY2024 earnings per share estimates for shares of Tango Therapeutics in a research report issued to clients and investors on Wednesday, November 6th. Leerink Partnrs analyst A. Berens now forecasts that the company will earn ($1.11) per share for the year, up from their prior estimate of ($1.25). The consensus estimate for Tango Therapeutics' current full-year earnings is ($1.23) per share. Leerink Partnrs also issued estimates for Tango Therapeutics' Q4 2024 earnings at ($0.25) EPS, FY2025 earnings at ($1.35) EPS, FY2026 earnings at ($1.50) EPS and FY2027 earnings at ($2.07) EPS.

Other equities analysts have also recently issued research reports about the company. Guggenheim lowered 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. B. Riley decreased their price objective on Tango Therapeutics from $16.00 to $8.00 and set a "buy" rating for the company in a report on Monday. Wedbush raised their price objective on Tango Therapeutics from $11.00 to $13.00 and gave the company an "outperform" rating in a report on Thursday, August 8th. HC Wainwright restated a "buy" rating and issued a $13.00 price objective on shares of Tango Therapeutics in a report on Friday. Finally, Jefferies Financial Group started coverage on Tango Therapeutics in a report on Wednesday, July 17th. They issued a "buy" rating and a $19.00 price objective for the company. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $13.14.

Tango Therapeutics Price Performance

TNGX stock traded up $0.43 during trading hours on Monday, reaching $3.38. 4,454,156 shares of the stock were exchanged, compared to its average volume of 929,749. The firm's 50-day moving average is $7.41 and its 200-day moving average is $8.29. Tango Therapeutics has a 12 month low of $2.70 and a 12 month high of $13.01.

Institutional Investors Weigh In On Tango Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Tango Therapeutics by 3.4% in the first quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company's stock valued at $24,462,000 after acquiring an additional 101,673 shares during the last quarter. Artal Group S.A. bought a new position in Tango Therapeutics in the first quarter valued at approximately $17,427,000. Point72 Asset Management L.P. bought a new position in Tango Therapeutics in the second quarter valued at approximately $3,836,000. Dimensional Fund Advisors LP increased its stake in Tango Therapeutics by 42.5% in the second quarter. Dimensional Fund Advisors LP now owns 335,913 shares of the company's stock valued at $2,882,000 after acquiring an additional 100,257 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Tango Therapeutics by 12.2% in the second quarter. Bank of New York Mellon Corp now owns 141,623 shares of the company's stock valued at $1,215,000 after acquiring an additional 15,373 shares during the last quarter. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tango Therapeutics

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 135,000 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.79, for a total transaction of $1,321,650.00. Following the completion of the sale, the insider now directly owns 17,351,475 shares in the company, valued at $169,870,940.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 135,000 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.79, for a total transaction of $1,321,650.00. Following the completion of the sale, the insider now directly owns 17,351,475 shares in the company, valued at $169,870,940.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Boxer Capital Management, Llc sold 625,000 shares of the firm's stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $7.05, for a total transaction of $4,406,250.00. Following the sale, the insider now owns 7,573,642 shares of the company's stock, valued at $53,394,176.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,965,400 shares of company stock worth $25,156,782. Insiders own 6.30% 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.