Tango Therapeutics (NASDAQ:TNGX) Stock Price Down 3.8%

Tango Therapeutics, Inc. (NASDAQ:TNGX)’s share price was down 3.8% during mid-day trading on Friday . The stock traded as low as $7.05 and last traded at $7.09. Approximately 100,257 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 652,385 shares. The stock had previously closed at $7.37.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TNGX shares. Piper Sandler started coverage on shares of Tango Therapeutics in a report on Monday, February 12th. They issued an “overweight” rating and a $18.00 price objective for the company. HC Wainwright increased their price objective on shares of Tango Therapeutics from $16.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Wedbush restated an “outperform” rating and set a $18.00 target price on shares of Tango Therapeutics in a report on Monday, March 18th. Finally, Cantor Fitzgerald initiated coverage on shares of Tango Therapeutics in a report on Thursday, April 4th. They set an “overweight” rating for the company. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $17.25.

Tango Therapeutics Price Performance

The stock has a market capitalization of $752.38 million, a P/E ratio of -6.64 and a beta of 0.83. The stock’s fifty day moving average is $9.52 and its two-hundred day moving average is $9.47.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings data on Monday, March 18th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). Tango Therapeutics had a negative return on equity of 41.96% and a negative net margin of 278.55%. The firm had revenue of $5.43 million during the quarter, compared to analyst estimates of $7.86 million. Analysts expect that Tango Therapeutics, Inc. will post -1.28 EPS for the current year.

Insiders Place Their Bets

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of Tango Therapeutics stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.00, for a total transaction of $1,950,000.00. Following the transaction, the insider now directly owns 19,201,475 shares in the company, valued at approximately $230,417,700. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Tango Therapeutics news, CEO Barbara Weber sold 4,681 shares of Tango Therapeutics stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $12.56, for a total transaction of $58,793.36. Following the completion of the sale, the chief executive officer now owns 1,539,624 shares of the company’s stock, valued at approximately $19,337,677.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of Tango Therapeutics stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $12.00, for a total transaction of $1,950,000.00. Following the sale, the insider now directly owns 19,201,475 shares of the company’s stock, valued at approximately $230,417,700. The disclosure for this sale can be found here. In the last three months, insiders have sold 174,731 shares of company stock worth $2,103,703. Corporate insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

Institutional investors have recently modified their holdings of the stock. Royal Bank of Canada acquired a new stake in shares of Tango Therapeutics during the 1st quarter valued at $32,000. AJOVista LLC acquired a new stake in shares of Tango Therapeutics during the 4th quarter valued at $61,000. Virtus ETF Advisers LLC acquired a new stake in shares of Tango Therapeutics during the 4th quarter valued at $90,000. Cowen AND Company LLC acquired a new stake in shares of Tango Therapeutics during the 4th quarter valued at $99,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of Tango Therapeutics during the 2nd quarter valued at $50,000. Institutional investors and hedge funds own 78.99% of the company’s stock.

Tango Therapeutics Company Profile

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.