Tango Therapeutics (NASDAQ:TNGX) Shares Down 4.6% - Time to Sell?

Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) dropped 4.6% during trading on Friday . The stock traded as low as $5.86 and last traded at $5.83. Approximately 185,279 shares traded hands during trading, a decline of 88% from the average daily volume of 1,597,655 shares. The stock had previously closed at $6.11.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a "buy" rating and set a $13.00 price objective on shares of Tango Therapeutics in a report on Monday, April 14th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tango Therapeutics has a consensus rating of "Buy" and a consensus target price of $12.20.

Tango Therapeutics Price Performance

The stock has a market cap of $650.36 million, a PE ratio of -4.93 and a beta of 1.63. The business has a 50 day moving average price of $3.51 and a two-hundred day moving average price of $2.67.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.02). The business had revenue of $5.39 million for the quarter, compared to the consensus estimate of $6.73 million. Tango Therapeutics had a negative net margin of 322.67% and a negative return on equity of 62.75%. On average, sell-side analysts forecast that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tango Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in TNGX. Deutsche Bank AG raised its holdings in Tango Therapeutics by 24.1% in the fourth quarter. Deutsche Bank AG now owns 36,653 shares of the company's stock worth $113,000 after purchasing an additional 7,128 shares in the last quarter. Ameriprise Financial Inc. bought a new position in Tango Therapeutics in the fourth quarter worth $35,000. Squarepoint Ops LLC bought a new position in Tango Therapeutics in the fourth quarter worth $40,000. Northern Trust Corp increased its holdings in shares of Tango Therapeutics by 7.1% during the fourth quarter. Northern Trust Corp now owns 513,079 shares of the company's stock valued at $1,585,000 after acquiring an additional 33,829 shares in the last quarter. Finally, Millennium Management LLC bought a new position in shares of Tango Therapeutics during the fourth quarter valued at $771,000. Institutional investors 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.

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