Research Analysts Issue Forecasts for TNGX FY2024 Earnings

Tango Therapeutics, Inc. (NASDAQ:TNGX) – Research analysts at B. Riley increased their FY2024 EPS estimates for shares of Tango Therapeutics in a research note issued on Monday, November 11th. B. Riley analyst Y. Zhi now expects that the company will post earnings per share of ($1.21) for the year, up from their previous forecast of ($1.29). B. Riley currently has a “Buy” rating and a $8.00 target price on the stock. The consensus estimate for Tango Therapeutics’ current full-year earnings is ($1.20) per share. B. Riley also issued estimates for Tango Therapeutics’ Q4 2024 earnings at ($0.36) EPS and FY2025 earnings at ($1.49) EPS.

Other equities analysts have also issued reports about the company. Wedbush upped their target price on Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Jefferies Financial Group began coverage on shares of Tango Therapeutics in a report on Wednesday, July 17th. They set a “buy” rating and a $19.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $13.00 price objective on shares of Tango Therapeutics in a report on Friday, November 8th. Finally, Guggenheim decreased their target price on shares of Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tango Therapeutics presently has an average rating of “Buy” and an average target price of $13.14.

Tango Therapeutics Stock Up 6.3 %

TNGX stock opened at $3.56 on Thursday. Tango Therapeutics has a fifty-two week low of $2.70 and a fifty-two week high of $13.01. The stock’s 50 day simple moving average is $7.09 and its 200 day simple moving average is $8.23.

Insider Buying and Selling at Tango Therapeutics

In other Tango Therapeutics news, insider Boxer Capital Management, Llc sold 625,000 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $7.05, for a total value of $4,406,250.00. Following the completion of the sale, the insider now directly owns 7,573,642 shares of the company’s stock, valued at approximately $53,394,176.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Tango Therapeutics news, insider Boxer Capital Management, Llc sold 625,000 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $7.05, for a total value of $4,406,250.00. Following the completion of the transaction, the insider now owns 7,573,642 shares in the company, valued at $53,394,176.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Rock Ventures Iv L.P. Third sold 150,000 shares of Tango Therapeutics stock in a transaction on Monday, August 19th. The stock was sold at an average price of $10.09, for a total value of $1,513,500.00. Following the sale, the insider now owns 17,201,475 shares in the company, valued at $173,562,882.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,965,400 shares of company stock worth $25,156,782. Corporate insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd bought a new stake in shares of Tango Therapeutics in the 2nd quarter worth approximately $54,000. Paloma Partners Management Co bought a new stake in shares of Tango Therapeutics in the first quarter valued at $80,000. Quest Partners LLC lifted its position in shares of Tango Therapeutics by 1,448.4% during the 3rd quarter. Quest Partners LLC now owns 10,885 shares of the company’s stock valued at $84,000 after buying an additional 10,182 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of Tango Therapeutics during the 2nd quarter worth $90,000. Finally, Quarry LP purchased a new stake in Tango Therapeutics in the 2nd quarter worth about $99,000. 78.99% of the stock is owned by institutional investors.

About Tango Therapeutics

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.