Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) traded down 5.8% during mid-day trading on Thursday . The stock traded as low as $6.33 and last traded at $6.39. 186,809 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 742,793 shares. The stock had previously closed at $6.78.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on Tango Therapeutics in a research report 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 report on Tuesday, July 9th. HC Wainwright reissued a "buy" rating and set a $13.00 price target on shares of Tango Therapeutics in a report on Tuesday, September 10th. Finally, Wedbush increased their price target on Tango Therapeutics from $11.00 to $13.00 and gave the company an "outperform" rating in a report on Thursday, August 8th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $15.14.
Check Out Our Latest Stock Report on Tango Therapeutics
Tango Therapeutics Stock Performance
The stock has a fifty day moving average of $9.26 and a 200 day moving average of $8.54. The company has a market capitalization of $699.84 million, a P/E ratio of -5.80 and a beta of 0.81.
Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.34) by $0.10. Tango Therapeutics had a negative return on equity of 44.73% and a negative net margin of 274.04%. The business had revenue of $19.88 million during the quarter, compared to analyst estimates of $7.39 million. Research analysts anticipate 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 262,740 shares of the firm's stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $9.78, for a total transaction of $2,569,597.20. Following the completion of the transaction, the insider now owns 18,197,074 shares in the company, valued at $177,967,383.72. This trade 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 the SEC website. In the last quarter, insiders sold 1,680,311 shares of company stock worth $17,042,393. Corporate insiders own 6.20% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd purchased a new position in Tango Therapeutics in the second quarter worth about $54,000. Paloma Partners Management Co bought a new stake in Tango Therapeutics in the first quarter worth about $80,000. Principal Financial Group Inc. bought a new stake in Tango Therapeutics in the second quarter worth about $90,000. Quarry LP bought a new stake in Tango Therapeutics in the second quarter worth about $99,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Tango Therapeutics by 12.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company's stock worth $102,000 after purchasing an additional 1,426 shares during the last quarter. Hedge funds and other institutional investors own 78.99% of the company's stock.
Tango Therapeutics Company Profile
(
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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