Tango Therapeutics (NASDAQ:TNGX) Trading Up 6.5% - Should You Buy?

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) shot up 6.5% during trading on Friday . The company traded as high as $5.21 and last traded at $5.24. 234,771 shares were traded during trading, a decline of 85% from the average session volume of 1,531,341 shares. The stock had previously closed at $4.92.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a "buy" rating and issued a $13.00 price objective 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 presently has a consensus rating of "Buy" and a consensus price target of $12.20.

Tango Therapeutics Price Performance

The stock has a market cap of $566.88 million, a P/E ratio of -4.29 and a beta of 1.24. The firm's fifty day moving average price is $2.68 and its two-hundred day moving average price is $2.49.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last issued its quarterly earnings data 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 62.75% and a negative net margin of 322.67%. The business had revenue of $5.39 million for the quarter, compared to analysts' expectations of $6.73 million. On average, research analysts expect that Tango Therapeutics, Inc. will post -1.19 earnings per share for the current fiscal year.

Institutional Trading of Tango Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Los Angeles Capital Management LLC purchased a new stake in Tango Therapeutics during the fourth quarter valued at about $218,000. Charles Schwab Investment Management Inc. boosted its stake in Tango Therapeutics by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 513,429 shares of the company's stock worth $1,586,000 after buying an additional 26,192 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in Tango Therapeutics during the fourth quarter valued at approximately $45,000. Swiss National Bank raised its stake in shares of Tango Therapeutics by 13.1% during the fourth quarter. Swiss National Bank now owns 94,900 shares of the company's stock worth $293,000 after acquiring an additional 11,000 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings 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 worth $45,000 after acquiring an additional 3,831 shares during the last quarter. 78.99% of the stock is owned by institutional investors.

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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