Tango Therapeutics (NASDAQ:TNGX) Shares Up 4.7% - What's Next?

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) were up 4.7% during trading on Tuesday . The company traded as high as $4.93 and last traded at $5.01. Approximately 373,285 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 1,474,168 shares. The stock had previously closed at $4.79.

Analyst Upgrades and Downgrades

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

Tango Therapeutics Trading Up 1.5%

The company has a 50-day moving average of $2.09 and a 200-day moving average of $2.39. The company has a market capitalization of $527.01 million, a price-to-earnings ratio of -4.09 and a beta of 1.24.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $5.39 million during the quarter, compared to analyst estimates of $6.73 million. Tango Therapeutics had a negative net margin of 284.42% and a negative return on equity of 49.64%. On average, research analysts expect that Tango Therapeutics, Inc. will post -1.19 EPS for the current year.

Hedge Funds Weigh In On Tango Therapeutics

Large investors have recently modified their holdings of the business. Congress Asset Management Co. grew its stake in Tango Therapeutics by 9.0% during the 4th quarter. Congress Asset Management Co. now owns 227,989 shares of the company's stock worth $704,000 after purchasing an additional 18,919 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Tango Therapeutics during the fourth quarter worth about $218,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Tango Therapeutics by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 513,429 shares of the company's stock valued at $1,586,000 after purchasing an additional 26,192 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of Tango Therapeutics in the 4th quarter worth $45,000. Finally, Swiss National Bank lifted its stake 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 period. Institutional investors and hedge funds 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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