Tango Therapeutics (NASDAQ:TNGX) Issues Quarterly Earnings Results

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) announced its quarterly earnings data on Monday. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.02), Zacks reports. Tango Therapeutics had a negative net margin of 284.42% and a negative return on equity of 49.64%. The company had revenue of $5.39 million for the quarter, compared to analyst estimates of $6.73 million.

Tango Therapeutics Trading Down 1.3%

NASDAQ TNGX traded down $0.02 during trading hours on Friday, hitting $1.50. The company's stock had a trading volume of 1,075,654 shares, compared to its average volume of 1,086,527. Tango Therapeutics has a 52 week low of $1.03 and a 52 week high of $12.02. The company has a market capitalization of $162.59 million, a PE ratio of -1.27 and a beta of 1.02. The company's 50-day simple moving average is $1.45 and its two-hundred day simple moving average is $2.55.

Hedge Funds Weigh In On Tango Therapeutics

Large investors have recently added to or reduced their stakes in the business. Woodline Partners LP increased its stake in Tango Therapeutics by 28.3% in the 1st quarter. Woodline Partners LP now owns 506,188 shares of the company's stock valued at $693,000 after buying an additional 111,791 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Tango Therapeutics in the 1st quarter valued at about $195,000. Invesco Ltd. increased its stake in Tango Therapeutics by 138.8% in the 1st quarter. Invesco Ltd. now owns 70,517 shares of the company's stock valued at $97,000 after buying an additional 40,983 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its stake in Tango Therapeutics by 139.7% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,801 shares of the company's stock valued at $35,000 after buying an additional 15,037 shares during the last quarter. Institutional investors own 78.99% of the company's stock.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a "buy" rating and set a $13.00 price objective on shares of Tango Therapeutics in a report on Monday, April 14th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $12.33.

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.