Tango Therapeutics (NASDAQ:TNGX) Stock Price Up 3% - Here's Why

Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) shares traded up 3% during trading on Wednesday . The stock traded as high as $7.20 and last traded at $6.88. 1,947,322 shares were traded during mid-day trading, an increase of 20% from the average session volume of 1,623,936 shares. The stock had previously closed at $6.68.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a "buy" rating and set a $13.00 price target on shares of Tango Therapeutics in a report on Monday, April 14th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $10.50.

Tango Therapeutics Trading Up 1.0%

The business has a fifty day moving average of $4.66 and a 200-day moving average of $2.92. The firm has a market cap of $739.25 million, a PE ratio of -5.59 and a beta of 1.63.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC raised its position in Tango Therapeutics by 182.2% during the 2nd quarter. CWM LLC now owns 4,905 shares of the company's stock worth $25,000 after buying an additional 3,167 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Tango Therapeutics in the 4th quarter valued at approximately $33,000. Stonebrook Private Inc. bought a new stake in shares of Tango Therapeutics in the 4th quarter worth approximately $34,000. Ameriprise Financial Inc. purchased a new stake in shares of Tango Therapeutics in the fourth quarter worth approximately $35,000. Finally, Sherbrooke Park Advisers LLC acquired a new stake in shares of Tango Therapeutics in the fourth quarter worth $38,000. Hedge funds and other 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.