Tango Therapeutics, Inc. (NASDAQ:TNGX) Expected to Post Q2 2024 Earnings of ($0.34) Per Share

Tango Therapeutics, Inc. (NASDAQ:TNGX) – B. Riley issued their Q2 2024 earnings per share (EPS) estimates for shares of Tango Therapeutics in a research note issued to investors on Monday, April 15th. B. Riley analyst Y. Zhi forecasts that the company will post earnings per share of ($0.34) for the quarter. The consensus estimate for Tango Therapeutics’ current full-year earnings is ($1.28) per share. B. Riley also issued estimates for Tango Therapeutics’ FY2024 earnings at ($1.36) EPS and FY2025 earnings at ($1.37) EPS.

Several other analysts have also weighed in on TNGX. Wedbush reissued an “outperform” rating and set a $18.00 price objective on shares of Tango Therapeutics in a report on Monday, March 18th. Cantor Fitzgerald assumed coverage on Tango Therapeutics in a research note on Thursday, April 4th. They issued an “overweight” rating on the stock. HC Wainwright lifted their price objective on Tango Therapeutics from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, Piper Sandler began coverage on Tango Therapeutics in a research report on Monday, February 12th. They set an “overweight” rating and a $18.00 target price for the company. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Tango Therapeutics has an average rating of “Buy” and an average price target of $17.25.

Tango Therapeutics Trading Down 0.8 %

Shares of NASDAQ:TNGX opened at $7.31 on Thursday. Tango Therapeutics has a 1-year low of $2.47 and a 1-year high of $13.03. The firm has a market capitalization of $780.12 million, a PE ratio of -6.65 and a beta of 0.83. The business’s 50 day moving average is $9.42 and its 200-day moving average is $9.45.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings data on Monday, March 18th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $7.86 million.

Insider Buying and Selling

In other Tango Therapeutics news, insider Adam Crystal sold 4,288 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $12.56, for a total value of $53,857.28. Following the completion of the transaction, the insider now directly owns 123,561 shares of the company’s stock, valued at $1,551,926.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $12.00, for a total value of $1,950,000.00. Following the completion of the transaction, the insider now directly owns 19,201,475 shares of the company’s stock, valued at $230,417,700. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Adam Crystal sold 4,288 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $12.56, for a total value of $53,857.28. Following the completion of the transaction, the insider now directly owns 123,561 shares of the company’s stock, valued at $1,551,926.16. The disclosure for this sale can be found here. Insiders sold a total of 174,731 shares of company stock valued at $2,103,703 over the last three months. Company insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TNGX. Royal Bank of Canada acquired a new position in shares of Tango Therapeutics during the first quarter worth about $32,000. AJOVista LLC acquired a new position in shares of Tango Therapeutics during the fourth quarter worth about $61,000. Virtus ETF Advisers LLC acquired a new position in shares of Tango Therapeutics during the fourth quarter worth about $90,000. Cowen AND Company LLC acquired a new position in shares of Tango Therapeutics during the fourth quarter worth about $99,000. Finally, Occudo Quantitative Strategies LP acquired a new position in shares of Tango Therapeutics during the second quarter worth about $50,000. 78.99% of the stock is owned by institutional investors and hedge funds.

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.