Tango Therapeutics (NASDAQ:TNGX) Trading Up 7.1% - What's Next?

Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report)'s stock price traded up 7.1% during mid-day trading on Wednesday . The stock traded as high as $6.12 and last traded at $6.11. 836,351 shares were traded during trading, a decline of 47% from the average session volume of 1,587,122 shares. The stock had previously closed at $5.70.

Wall Street Analyst Weigh In

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, According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $12.20.

Tango Therapeutics Stock Up 8.4%

The company's fifty day simple moving average is $3.33 and its 200 day simple moving average is $2.63. The firm has a market capitalization of $669.85 million, a PE ratio of -5.07 and a beta of 1.63.

Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last announced its earnings results 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 company had revenue of $5.39 million for 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 research analysts forecast that Tango Therapeutics, Inc. will post -1.19 EPS for the current year.

Hedge Funds Weigh In On Tango Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in Tango Therapeutics by 5.4% during 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 purchased a new position in shares of Tango Therapeutics during the 4th quarter worth approximately $45,000. Swiss National Bank boosted its position 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 purchasing an additional 11,000 shares during the period. Teacher Retirement System of Texas lifted its holdings in Tango Therapeutics by 35.8% during the 4th quarter. Teacher Retirement System of Texas now owns 14,544 shares of the company's stock worth $45,000 after buying an additional 3,831 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Tango Therapeutics by 12.4% in the 4th quarter. American Century Companies Inc. now owns 110,448 shares of the company's stock valued at $341,000 after purchasing an additional 12,162 shares in the last quarter. 78.99% of the stock is owned by hedge funds and other institutional investors.

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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