Cantor Fitzgerald Weighs in on Tango Therapeutics, Inc.’s FY2024 Earnings (NASDAQ:TNGX)

Tango Therapeutics, Inc. (NASDAQ:TNGX) – Investment analysts at Cantor Fitzgerald issued their FY2024 earnings estimates for Tango Therapeutics in a research report issued on Tuesday, April 9th. Cantor Fitzgerald analyst E. Schmidt expects that the company will earn ($1.28) per share for the year. Cantor Fitzgerald currently has a “Overweight” rating on the stock. The consensus estimate for Tango Therapeutics’ current full-year earnings is ($1.28) per share.

Several other equities research analysts have also recently issued reports on the stock. Wedbush restated an “outperform” rating and issued a $18.00 target price on shares of Tango Therapeutics in a report on Monday, March 18th. Piper Sandler began coverage on shares of Tango Therapeutics in a report on Monday, February 12th. They issued an “overweight” rating and a $18.00 target price on the stock. Finally, HC Wainwright raised their target price on shares of Tango Therapeutics from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $17.25.

Tango Therapeutics Stock Down 3.0 %

NASDAQ:TNGX opened at $7.36 on Friday. The company’s 50 day moving average price is $9.94 and its 200-day moving average price is $9.58. Tango Therapeutics has a 52 week low of $2.47 and a 52 week high of $13.03. The stock has a market cap of $785.46 million, a price-to-earnings ratio of -6.69 and a beta of 0.83.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada bought a new position in Tango Therapeutics in the first quarter worth approximately $32,000. Two Sigma Securities LLC bought a new stake in shares of Tango Therapeutics during the 2nd quarter valued at $40,000. Renaissance Technologies LLC bought a new stake in shares of Tango Therapeutics during the 3rd quarter valued at $41,000. XTX Topco Ltd bought a new stake in shares of Tango Therapeutics during the 1st quarter valued at $44,000. Finally, HRT Financial LP bought a new stake in shares of Tango Therapeutics during the 1st quarter valued at $45,000. 78.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Tango Therapeutics news, insider Adam Crystal sold 4,288 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $12.56, for a total value of $53,857.28. Following the transaction, the insider now directly owns 123,561 shares in the company, valued at $1,551,926.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tango Therapeutics news, CEO Barbara Weber sold 4,681 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $12.56, for a total value of $58,793.36. Following the transaction, the chief executive officer now directly owns 1,539,624 shares in the company, valued at $19,337,677.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Adam Crystal sold 4,288 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $12.56, for a total transaction of $53,857.28. Following the completion of the transaction, the insider now owns 123,561 shares in the company, valued at $1,551,926.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 174,731 shares of company stock worth $2,103,703. 6.20% of the stock is owned by insiders.

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.