Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report)'s share price traded up 4.7% during mid-day trading on Tuesday . The company traded as high as $4.93 and last traded at $5.01. 373,285 shares changed hands during trading, a decline of 75% from the average session volume of 1,474,168 shares. The stock had previously closed at $4.79.
Analysts Set New Price Targets
Separately, HC Wainwright restated a "buy" rating and issued a $13.00 price objective on shares of Tango Therapeutics in a research report on Monday, April 14th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tango Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $12.20.
View Our Latest Research Report on Tango Therapeutics
Tango Therapeutics Stock Up 7.5%
The company has a market cap of $559.29 million, a price-to-earnings ratio of -4.23 and a beta of 1.24. The business has a fifty day simple moving average of $2.37 and a 200 day simple moving average of $2.44.
Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $6.73 million. Tango Therapeutics had a negative net margin of 322.67% and a negative return on equity of 62.75%. Equities analysts anticipate that Tango Therapeutics, Inc. will post -1.19 EPS for the current fiscal year.
Institutional Investors Weigh In On Tango Therapeutics
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. TCG Crossover Management LLC purchased a new stake in Tango Therapeutics in the 4th quarter valued at approximately $33,174,000. Boxer Capital Management LLC acquired a new position in Tango Therapeutics during the fourth quarter worth approximately $32,077,000. Gilead Sciences Inc. acquired a new stake in shares of Tango Therapeutics during the 4th quarter worth $15,000,000. Farallon Capital Management LLC purchased a new position in shares of Tango Therapeutics in the 4th quarter worth about $12,360,000. Finally, Balyasny Asset Management L.P. lifted its position in Tango Therapeutics by 22.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 3,279,196 shares of the company's stock valued at $10,133,000 after buying an additional 592,000 shares in the last quarter. 78.99% of the stock is currently owned by institutional investors and hedge funds.
Tango Therapeutics Company Profile
(
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.
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