Tango Therapeutics (NASDAQ:TNGX) Sets New 12-Month High Following Earnings Beat

Tango Therapeutics, Inc. (NASDAQ:TNGX)’s stock price reached a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $15.00 and last traded at $14.98, with a volume of 2822533 shares trading hands. The stock had previously closed at $12.35.

The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.02. Tango Therapeutics had a negative net margin of 151.15% and a negative return on equity of 66.01%.

More Tango Therapeutics News

Here are the key news stories impacting Tango Therapeutics this week:

• Positive Sentiment: Clinical collaboration with Erasca to test ERAS‑0015/vopimetostat in MTAP‑deleted, RAS‑mutant cancers expands Tango’s clinical footprint and creates near‑term partnership newsflow that likely drove buying interest and record highs. TNGX Stock Hits Record High on Inking Collaboration Deal With ERAS
• Positive Sentiment: HC Wainwright sharply raised its price target to $27 (buy), a large explicit upside that can boost sentiment and buy‑side conviction. HC Wainwright price target raise
• Positive Sentiment: Guggenheim raised its target to $20 and reiterated a buy rating, adding to analyst momentum and supporting the share‑price lift. Guggenheim price target raise
• Positive Sentiment: Wedbush raised its target to $19 with an “outperform” rating, another vote of confidence from sell‑side analysts that can attract new buyers. Wedbush price target raise
• Positive Sentiment: An investment firm added ~1.1M shares (~$9.5M), increasing its reported position materially — institutional buying that signals conviction and can underpin the rally. Investment Firm Bets Big on TNGX Stock
• Neutral Sentiment: Quarterly results beat EPS estimates by $0.02 (reported -$0.29 vs. -$0.31) — a modest positive but company remains unprofitable with negative margins and ROE, so financials are unlikely to change valuation narrative immediately. Tango Therapeutics press release
• Negative Sentiment: A Seeking Alpha piece warns against buying into the rally despite PRMT5 promise, highlighting clinical, competitive and valuation risks that could limit upside or prompt pullbacks if trial data or execution falter. Tango Therapeutics: I’m Not Buying Into Latest Rally

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $18.00 target price on shares of Tango Therapeutics in a research note on Thursday. B. Riley Financial upped their price objective on Tango Therapeutics from $8.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Wedbush increased their price objective on Tango Therapeutics from $15.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday. Stifel Nicolaus assumed coverage on Tango Therapeutics in a research report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 price objective for the company. Finally, Guggenheim upped their target price on shares of Tango Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $18.25.

Insider Buying and Selling

In other news, CFO Daniella Beckman sold 10,317 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $12.26, for a total transaction of $126,486.42. Following the sale, the chief financial officer owned 184,297 shares in the company, valued at $2,259,481.22. This trade represents a 5.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Adam Crystal sold 54,345 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $12.77, for a total value of $693,985.65. Following the sale, the insider owned 132,873 shares in the company, valued at $1,696,788.21. This trade represents a 29.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 113,633 shares of company stock worth $1,420,857. 7.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Tango Therapeutics

Several institutional investors have recently added to or reduced their stakes in TNGX. Adage Capital Partners GP L.L.C. boosted its stake in Tango Therapeutics by 322.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 10,607,924 shares of the company’s stock worth $93,986,000 after buying an additional 8,096,924 shares during the last quarter. Caligan Partners LP acquired a new position in shares of Tango Therapeutics during the 4th quarter valued at about $33,047,000. Goldman Sachs Group Inc. lifted its holdings in shares of Tango Therapeutics by 227.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,942,414 shares of the company’s stock worth $43,790,000 after acquiring an additional 3,432,939 shares during the period. Logos Global Management LP lifted its holdings in shares of Tango Therapeutics by 342.1% during the 4th quarter. Logos Global Management LP now owns 4,200,000 shares of the company’s stock worth $37,212,000 after acquiring an additional 3,250,000 shares during the period. Finally, Paradigm Biocapital Advisors LP acquired a new stake in shares of Tango Therapeutics in the third quarter worth approximately $25,924,000. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Tango Therapeutics Price Performance

The company’s 50-day moving average is $11.86 and its 200-day moving average is $9.44. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of -19.48 and a beta of 1.76.

About Tango Therapeutics

Tango Therapeutics is a clinical-stage biotechnology company dedicated to developing precision medicines that exploit genetic vulnerabilities in cancer cells. Leveraging a proprietary synthetic lethality platform, the company identifies and targets tumor-specific dependencies in DNA damage response and related pathways. By focusing on tumor cell collateral sensitivities, Tango aims to bring differentiated small-molecule therapies to patients with genetic alterations that confer increased susceptibility to targeted inhibition.

The company’s lead pipeline comprises several early-stage programs, including inhibitors designed to selectively disable DNA repair proteins in tumor cells while sparing normal tissues.