Tango Therapeutics (NASDAQ:TNGX) Stock Price Up 9.1% - Time to Buy?

Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report)'s stock price rose 9.1% during trading on Thursday . The company traded as high as $6.94 and last traded at $6.93. Approximately 1,033,361 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 1,616,573 shares. The stock had previously closed at $6.35.

Analyst Ratings Changes

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

Tango Therapeutics Price Performance

The stock has a market capitalization of $743.56 million, a P/E ratio of -5.62 and a beta of 1.63. The company's 50 day simple moving average is $3.89 and its two-hundred day simple moving average is $2.75.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.02). Tango Therapeutics had a negative net margin of 322.67% and a negative return on equity of 62.75%. The business had revenue of $5.39 million during the quarter, compared to the consensus estimate of $6.73 million. On average, research analysts anticipate that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current fiscal year.

Institutional Trading of Tango Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of TNGX. Teacher Retirement System of Texas raised its position 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 buying an additional 3,831 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Tango Therapeutics by 29.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,998 shares of the company's stock valued at $65,000 after purchasing an additional 4,813 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Tango Therapeutics by 24.1% during the 4th quarter. Deutsche Bank AG now owns 36,653 shares of the company's stock valued at $113,000 after acquiring an additional 7,128 shares during the period. Wells Fargo & Company MN raised its holdings in Tango Therapeutics by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 22,292 shares of the company's stock worth $69,000 after buying an additional 7,599 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Tango Therapeutics by 9.9% in the first quarter. Bank of New York Mellon Corp now owns 113,233 shares of the company's stock valued at $155,000 after purchasing an additional 10,213 shares during the last quarter. Institutional investors own 78.99% of the company's stock.

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.

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