Tango Therapeutics (NASDAQ:TNGX) Shares Down 3.8%

Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) shares fell 3.8% on Friday . The stock traded as low as $7.05 and last traded at $7.09. 100,257 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 652,385 shares. The stock had previously closed at $7.37.

Analyst Ratings Changes

Several research firms recently weighed in on TNGX. Cantor Fitzgerald began coverage on Tango Therapeutics in a report on Thursday, April 4th. They issued an "overweight" rating for the company. Piper Sandler began coverage on Tango Therapeutics in a report on Monday, February 12th. They issued an "overweight" rating and a $18.00 target price for the company. HC Wainwright boosted their target price on Tango Therapeutics from $16.00 to $17.00 and gave the stock a "buy" rating in a report on Wednesday, March 20th. Finally, Wedbush restated an "outperform" rating and issued a $18.00 target price on shares of Tango Therapeutics in a report on Monday, March 18th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $17.25.

Tango Therapeutics Stock Performance

The company has a market capitalization of $780.12 million, a P/E ratio of -6.41 and a beta of 0.83. The company has a 50-day simple moving average of $9.52 and a 200 day simple moving average of $9.47.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $5.43 million for the quarter, compared to the consensus estimate of $7.86 million. Tango Therapeutics had a negative net margin of 278.55% and a negative return on equity of 41.96%. As a group, sell-side analysts forecast that Tango Therapeutics, Inc. will post -1.28 earnings per share for the current year.

Insider Buying and Selling at Tango Therapeutics

In other Tango Therapeutics news, insider Adam Crystal sold 4,288 shares of the company's 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 sale, the insider now directly owns 123,561 shares in the company, valued at $1,551,926.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of the company's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $12.00, for a total transaction of $1,950,000.00. Following the transaction, the insider now owns 19,201,475 shares of the company's stock, valued at $230,417,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Adam Crystal sold 4,288 shares of the company's 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 transaction, 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. Insiders have sold 174,731 shares of company stock worth $2,103,703 over the last three months. Company insiders own 6.20% of the company's stock.

Hedge Funds Weigh In On Tango Therapeutics

Several large investors have recently made changes to their positions in TNGX. RTW Investments LP acquired a new position in Tango Therapeutics in the fourth quarter valued at about $19,471,000. FMR LLC grew its holdings 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 in the last quarter. Vanguard Group Inc. grew its stake in Tango Therapeutics by 87.6% in the first quarter. Vanguard Group Inc. now owns 2,713,963 shares of the company's stock valued at $20,571,000 after purchasing an additional 1,267,198 shares in the last quarter. Boxer Capital LLC grew its stake in Tango Therapeutics by 15.1% in the fourth quarter. Boxer Capital LLC now owns 8,198,642 shares of the company's stock valued at $81,167,000 after purchasing an additional 1,075,000 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C bought a new position in Tango Therapeutics in the third quarter valued at approximately $8,937,000. Institutional investors and hedge funds own 78.99% of the company's stock.

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.