Tango Therapeutics, Inc. (NASDAQ:TNGX - Free Report) - Investment analysts at Wedbush increased their Q2 2024 earnings per share (EPS) estimates for Tango Therapeutics in a research note issued on Thursday, May 23rd. Wedbush analyst R. Driscoll now anticipates that the company will post earnings of ($0.29) per share for the quarter, up from their prior forecast of ($0.36). Wedbush currently has a "Outperform" rating and a $11.00 target price on the stock. The consensus estimate for Tango Therapeutics' current full-year earnings is ($1.28) per share. Wedbush also issued estimates for Tango Therapeutics' Q3 2024 earnings at ($0.29) EPS, Q4 2024 earnings at ($0.25) EPS, FY2024 earnings at ($1.18) EPS, Q1 2025 earnings at ($0.23) EPS, Q2 2025 earnings at ($0.26) EPS, Q3 2025 earnings at ($0.26) EPS, Q4 2025 earnings at ($0.25) EPS, FY2025 earnings at ($0.99) EPS, FY2026 earnings at ($1.03) EPS, FY2027 earnings at ($1.11) EPS and FY2028 earnings at $0.34 EPS.
Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last released its earnings results on Monday, March 18th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.04). The business had revenue of $5.43 million for the quarter, compared to analyst estimates of $7.86 million. Tango Therapeutics had a negative net margin of 299.88% and a negative return on equity of 44.35%.
A number of other analysts have also commented on the stock. Cantor Fitzgerald started coverage on shares of Tango Therapeutics in a report on Thursday, April 4th. They set an "overweight" rating for the company. Guggenheim cut their target price on Tango Therapeutics from $16.00 to $14.00 and set a "buy" rating on the stock in a research note on Friday. Piper Sandler started coverage on Tango Therapeutics in a research report on Monday, February 12th. They set an "overweight" rating and a $18.00 target price for the company. HC Wainwright reaffirmed a "buy" rating and issued a $17.00 price target on shares of Tango Therapeutics in a research note on Thursday, May 9th. Finally, Barclays cut their price target on shares of Tango Therapeutics from $18.00 to $13.00 and set an "overweight" rating on the stock in a research report on Friday. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $14.83.
View Our Latest Stock Analysis on TNGX
Tango Therapeutics Trading Down 2.5 %
Shares of TNGX traded down $0.18 on Monday, reaching $6.91. 707,500 shares of the company's stock were exchanged, compared to its average volume of 624,665. The business has a 50 day moving average price of $7.58 and a two-hundred day moving average price of $9.28. Tango Therapeutics has a 12 month low of $2.47 and a 12 month high of $13.03. The stock has a market capitalization of $738.33 million, a P/E ratio of -6.12 and a beta of 0.84.
Insider Activity
In related news, insider Mva Investors, Llc sold 60,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $7.61, for a total transaction of $456,600.00. Following the completion of the sale, the insider now directly owns 483,524 shares of the company's stock, valued at approximately $3,679,617.64. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 6.20% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Tango Therapeutics
A number of large investors have recently added to or reduced their stakes in TNGX. FMR LLC boosted its position in shares of Tango Therapeutics by 12.3% during the third quarter. FMR LLC now owns 11,645,741 shares of the company's stock worth $131,131,000 after buying an additional 1,276,945 shares during the period. Boxer Capital LLC lifted its position in shares of Tango Therapeutics by 15.1% in the fourth 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 in the last quarter. Vanguard Group Inc. boosted its holdings in Tango Therapeutics by 3.4% during the first quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company's stock worth $24,462,000 after purchasing an additional 101,673 shares during the last quarter. Artal Group S.A. bought a new position in Tango Therapeutics in the first quarter valued at $17,427,000. Finally, RTW Investments LP acquired a new stake in Tango Therapeutics in the 4th quarter valued at $19,471,000. Institutional investors own 78.99% of the company's stock.
Tango Therapeutics Company Profile
(
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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.
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