Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report)'s share price fell 7.6% during trading on Tuesday . The stock traded as low as $6.61 and last traded at $6.61. 411,904 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 759,469 shares. The stock had previously closed at $7.15.
Wall Street Analyst Weigh In
Several brokerages have commented on TNGX. 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 price target on the stock. Cantor Fitzgerald restated an "overweight" rating on shares of Tango Therapeutics in a research report on Tuesday, July 9th. Wedbush raised their target price on shares of Tango Therapeutics from $11.00 to $13.00 and gave the stock an "outperform" rating in a research report on Thursday, August 8th. Finally, HC Wainwright restated a "buy" rating and set a $13.00 target price on shares of Tango Therapeutics in a research report on Tuesday, September 10th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tango Therapeutics has an average rating of "Buy" and an average price target of $15.14.
View Our Latest Stock Analysis on TNGX
Tango Therapeutics Stock Down 7.1 %
The company has a fifty day moving average of $8.91 and a two-hundred day moving average of $8.50. The stock has a market capitalization of $709.46 million, a price-to-earnings ratio of -5.88 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 for the quarter, topping the consensus estimate 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 firm had revenue of $19.88 million during the quarter, compared to the consensus estimate of $7.39 million. Equities analysts anticipate that Tango Therapeutics, Inc. will post -1.27 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, major shareholder Rock Ventures Iv L.P. Third sold 40,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $9.80, for a total transaction of $392,000.00. Following the completion of the sale, the insider now directly owns 17,486,475 shares of the company's stock, valued at $171,367,455. This trade 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 through this link. Insiders sold a total of 867,400 shares of company stock valued at $9,086,622 over the last three months. 6.20% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Tango Therapeutics
A number of hedge funds and other institutional investors have recently bought and sold shares of TNGX. Point72 DIFC Ltd acquired a new stake in Tango Therapeutics in the second quarter valued at $54,000. Paloma Partners Management Co acquired a new stake in Tango Therapeutics in the first quarter valued at $80,000. Principal Financial Group Inc. acquired a new stake in Tango Therapeutics in the second quarter valued at $90,000. Quarry LP acquired a new stake in Tango Therapeutics in the second quarter valued at $99,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings 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 valued at $102,000 after acquiring an additional 1,426 shares during the period. Institutional investors and hedge funds 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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