Tango Therapeutics (NASDAQ:TNGX) Stock Price Down 4.6% - What's Next?

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

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a "buy" rating and set a $13.00 price objective on shares of Tango Therapeutics in a research note on Monday, April 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $12.20.

Tango Therapeutics Stock Up 2.7%

The firm has a market cap of $660.12 million, a PE ratio of -4.99 and a beta of 1.63. The company has a 50-day simple moving average of $3.60 and a two-hundred day simple moving average of $2.68.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.36) earnings per share for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.02). The company had revenue of $5.39 million during the quarter, compared to analysts' expectations of $6.73 million. Tango Therapeutics had a negative return on equity of 62.75% and a negative net margin of 322.67%. As a group, equities analysts predict that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd purchased a new position in Tango Therapeutics in the fourth quarter valued at approximately $33,000. Stonebrook Private Inc. purchased a new position in shares of Tango Therapeutics during the 4th quarter valued at $34,000. Ameriprise Financial Inc. bought a new position in shares of Tango Therapeutics during the 4th quarter worth $35,000. Sherbrooke Park Advisers LLC bought a new position in shares of Tango Therapeutics during the 4th quarter worth $38,000. Finally, Squarepoint Ops LLC purchased a new stake in Tango Therapeutics in the 4th quarter worth about $40,000. 78.99% of the stock is currently 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.