Tango Therapeutics, Inc. (NASDAQ:TNGX) Expected to Earn Q1 2024 Earnings of ($0.33) Per Share

Tango Therapeutics, Inc. (NASDAQ:TNGX) – Investment analysts at B. Riley issued their Q1 2024 earnings per share estimates for shares of Tango Therapeutics in a research report issued on Monday, April 15th. B. Riley analyst Y. Zhi expects that the company will earn ($0.33) per share 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’ Q3 2024 earnings at ($0.34) EPS and Q4 2024 earnings at ($0.35) EPS.

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

Tango Therapeutics Stock Performance

NASDAQ TNGX opened at $7.46 on Wednesday. The firm has a market cap of $796.13 million, a price-to-earnings ratio of -6.78 and a beta of 0.83. The firm has a 50 day simple moving average of $9.62 and a 200-day simple moving average of $9.49. Tango Therapeutics has a one year low of $2.47 and a one year high of $13.03.

Tango Therapeutics (NASDAQ:TNGX) last released its earnings results 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). The firm had revenue of $5.43 million during the quarter, compared to analyst estimates of $7.86 million. Tango Therapeutics had a negative net margin of 278.55% and a negative return on equity of 41.96%.

Insider Buying and Selling at Tango Therapeutics

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TNGX. Clear Harbor Asset Management LLC grew its stake in Tango Therapeutics by 5.3% during the 4th quarter. Clear Harbor Asset Management LLC now owns 21,200 shares of the company’s stock worth $210,000 after buying an additional 1,069 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Tango Therapeutics by 11.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,345 shares of the company’s stock worth $113,000 after acquiring an additional 1,129 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Tango Therapeutics by 2.6% in the 2nd quarter. California State Teachers Retirement System now owns 61,401 shares of the company’s stock valued at $204,000 after acquiring an additional 1,536 shares during the period. Charles Schwab Investment Management Inc. raised its position in Tango Therapeutics by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 369,066 shares of the company’s stock valued at $3,654,000 after purchasing an additional 1,709 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Tango Therapeutics by 8.3% in the 3rd quarter. American Century Companies Inc. now owns 23,718 shares of the company’s stock valued at $267,000 after purchasing an additional 1,826 shares during the last quarter. 78.99% of the stock is owned by hedge funds and other institutional investors.

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.