Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) shares rose 8.7% during mid-day trading on Friday . The stock traded as high as $6.88 and last traded at $6.84. Approximately 636,006 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 761,216 shares. The stock had previously closed at $6.29.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on TNGX. Jefferies Financial Group started coverage on shares of Tango Therapeutics in a report on Wednesday, July 17th. They issued a "buy" rating and a $19.00 price target on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Tango Therapeutics in a report on Tuesday, July 9th. Wedbush increased 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. Finally, HC Wainwright reissued a "buy" rating and issued a $13.00 price objective on shares of Tango Therapeutics in a research report on Tuesday, September 10th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $15.14.
Check Out Our Latest Stock Analysis on TNGX
Tango Therapeutics Trading Down 5.7 %
The firm has a 50-day moving average of $8.70 and a 200-day moving average of $8.46. The stock has a market capitalization of $633.60 million, a price-to-earnings ratio of -5.25 and a beta of 0.81.
Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.10. The firm had revenue of $19.88 million during 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%. On average, equities research analysts anticipate that Tango Therapeutics, Inc. will post -1.27 EPS for the current year.
Insider Buying and Selling at Tango Therapeutics
In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 25,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $11.55, for a total transaction of $288,750.00. Following the sale, the insider now directly owns 17,176,475 shares of the company's stock, valued at approximately $198,388,286.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Boxer Capital Management, Llc sold 625,000 shares of the firm's stock in a transaction dated 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 directly owns 7,573,642 shares in the company, valued at $53,394,176.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Rock Ventures Iv L.P. Third sold 25,000 shares of the company's stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $11.55, for a total value of $288,750.00. Following the completion of the transaction, the insider now directly owns 17,176,475 shares of the company's stock, valued at $198,388,286.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,292,400 shares of company stock worth $11,528,872. Company insiders own 6.20% of the company's stock.
Institutional Trading of Tango Therapeutics
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Point72 DIFC Ltd purchased a new stake in Tango Therapeutics in the 2nd quarter worth $54,000. Paloma Partners Management Co acquired a new position in shares of Tango Therapeutics during the 1st quarter worth about $80,000. Principal Financial Group Inc. purchased a new position in Tango Therapeutics in the 2nd quarter valued at about $90,000. Quarry LP purchased a new position in Tango Therapeutics in the 2nd quarter valued at about $99,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Tango Therapeutics by 12.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company's stock worth $102,000 after buying an additional 1,426 shares in the last quarter. 78.99% of the stock is currently owned by hedge funds and other institutional investors.
About Tango Therapeutics
(
Get Free Report)
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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