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

Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) - Cantor Fitzgerald issued their FY2024 earnings estimates for shares of Tango Therapeutics in a research report issued to clients and investors on Tuesday, April 9th. Cantor Fitzgerald analyst E. Schmidt forecasts that the company will post earnings per share of ($1.28) 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 brokerages also recently commented on TNGX. Wedbush restated an "outperform" rating and set a $18.00 price objective on shares of Tango Therapeutics in a research report on Monday, March 18th. HC Wainwright raised their price objective on shares of 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 started coverage on shares of Tango Therapeutics in a research report on Monday, February 12th. They set an "overweight" rating and a $18.00 price objective on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tango Therapeutics has an average rating of "Buy" and a consensus target price of $17.25.

Tango Therapeutics Price Performance

Shares of TNGX stock traded down $0.23 on Friday, hitting $7.36. 516,501 shares of the stock traded hands, compared to its average volume of 675,321. The firm has a market cap of $785.46 million, a price-to-earnings ratio of -6.90 and a beta of 0.83. Tango Therapeutics has a 52 week low of $2.47 and a 52 week high of $13.03. The firm has a 50 day simple moving average of $10.05 and a two-hundred day simple moving average of $9.60.

Insider Buying and Selling at Tango Therapeutics

In other Tango Therapeutics news, insider Adam Crystal sold 4,288 shares of Tango Therapeutics stock in a transaction 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 sale, the insider now directly owns 123,561 shares in the company, valued at approximately $1,551,926.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other 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 shares were sold at an average price of $12.00, for a total value of $1,950,000.00. Following the sale, the insider now directly owns 19,201,475 shares in the company, valued at approximately $230,417,700. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $53,857.28. Following the completion of the sale, 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. In the last ninety days, insiders have sold 174,731 shares of company stock worth $2,103,703. Insiders own 6.20% of the company's stock.

Hedge Funds Weigh In On Tango Therapeutics

A number of large investors have recently made changes to their positions in TNGX. RTW Investments LP purchased a new position in shares of Tango Therapeutics during the 4th quarter worth about $19,471,000. FMR LLC boosted its stake in shares of Tango Therapeutics by 12.3% during the 3rd quarter. FMR LLC now owns 11,645,741 shares of the company's stock worth $131,131,000 after purchasing an additional 1,276,945 shares during the period. Vanguard Group Inc. boosted its stake in shares of Tango Therapeutics by 87.6% during the 1st quarter. Vanguard Group Inc. now owns 2,713,963 shares of the company's stock worth $20,571,000 after purchasing an additional 1,267,198 shares during the period. Boxer Capital LLC boosted its stake in shares of Tango Therapeutics by 15.1% during the 4th quarter. Boxer Capital LLC now owns 8,198,642 shares of the company's stock worth $81,167,000 after purchasing an additional 1,075,000 shares during the period. Finally, Deerfield Management Company L.P. Series C purchased a new position in shares of Tango Therapeutics during the 3rd quarter worth about $8,937,000. 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.