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Tango Therapeutics (NASDAQ:TNGX) Shares Down 8.3% - What's Next?

Tango Therapeutics logo with Medical background

Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report)'s stock price fell 8.3% during trading on Wednesday . The stock traded as low as $4.84 and last traded at $4.92. 2,788,046 shares changed hands during trading, an increase of 84% from the average session volume of 1,518,937 shares. The stock had previously closed at $5.36.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a "buy" rating and issued a $13.00 target price 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, Based on data from MarketBeat, Tango Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $12.20.

Read Our Latest Analysis on TNGX

Tango Therapeutics Stock Performance

The stock has a market cap of $543.03 million, a P/E ratio of -4.11 and a beta of 1.24. The stock has a 50-day moving average price of $2.75 and a 200-day moving average price of $2.50.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.02). The company had revenue of $5.39 million for the quarter, compared to the consensus estimate of $6.73 million. Tango Therapeutics had a negative return on equity of 62.75% and a negative net margin of 322.67%. 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 modified their holdings of TNGX. Los Angeles Capital Management LLC bought a new stake in Tango Therapeutics in the 4th quarter worth approximately $218,000. Charles Schwab Investment Management Inc. raised its stake in shares of Tango Therapeutics by 5.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 513,429 shares of the company's stock worth $1,586,000 after acquiring an additional 26,192 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Tango Therapeutics in the 4th quarter worth approximately $45,000. Swiss National Bank lifted its holdings in shares of Tango Therapeutics by 13.1% in the 4th quarter. Swiss National Bank now owns 94,900 shares of the company's stock worth $293,000 after acquiring an additional 11,000 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in shares of Tango Therapeutics by 35.8% in the 4th quarter. Teacher Retirement System of Texas now owns 14,544 shares of the company's stock valued at $45,000 after purchasing an additional 3,831 shares in the last quarter. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

About Tango Therapeutics

(Get Free Report)

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.

See Also

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