Tango Therapeutics (NASDAQ:TNGX) Stock Price Up 11.8% - Here's Why

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) were up 11.8% during trading on Tuesday . The company traded as high as $4.59 and last traded at $4.65. Approximately 1,877,342 shares changed hands during trading, an increase of 22% from the average daily volume of 1,542,550 shares. The stock had previously closed at $4.16.

Analysts Set New Price Targets

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

Tango Therapeutics Stock Down 7.1%

The stock has a market cap of $508.37 million, a price-to-earnings ratio of -3.97 and a beta of 1.24. The company's 50-day simple moving average is $1.95 and its 200-day simple moving average is $2.41.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.02). Tango Therapeutics had a negative return on equity of 49.64% and a negative net margin of 284.42%. The business had revenue of $5.39 million during the quarter, compared to the consensus estimate of $6.73 million. As a group, analysts expect that Tango Therapeutics, Inc. will post -1.19 EPS for the current fiscal year.

Institutional Trading of Tango Therapeutics

A number of institutional investors have recently made changes to their positions in the business. Congress Asset Management Co. boosted its holdings in shares of Tango Therapeutics by 9.0% in the 4th quarter. Congress Asset Management Co. now owns 227,989 shares of the company's stock valued at $704,000 after buying an additional 18,919 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Tango Therapeutics in the fourth quarter valued at approximately $218,000. Charles Schwab Investment Management Inc. lifted its position 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 buying an additional 26,192 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Tango Therapeutics during the 4th quarter worth approximately $45,000. Finally, Swiss National Bank increased its holdings in shares of Tango Therapeutics by 13.1% during 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. 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.