Tango Therapeutics (NASDAQ:TNGX - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by stock analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.
A number of other research analysts have also issued reports on the company. Piper Sandler began coverage on Tango Therapeutics in a research report on Monday, August 18th. They set an "overweight" rating and a $11.00 price objective for the company. Guggenheim boosted their price objective on Tango Therapeutics from $8.00 to $10.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $10.50.
Check Out Our Latest Analysis on TNGX
Tango Therapeutics Stock Down 5.2%
Shares of NASDAQ TNGX traded down $0.38 during midday trading on Wednesday, hitting $6.91. The stock had a trading volume of 2,224,211 shares, compared to its average volume of 2,651,660. The company has a market capitalization of $768.81 million, a price-to-earnings ratio of -5.20 and a beta of 1.67. Tango Therapeutics has a 1-year low of $1.03 and a 1-year high of $8.80. The company has a fifty day moving average price of $7.07 and a 200 day moving average price of $4.58.
Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported ($0.35) EPS for the quarter, meeting the consensus estimate of ($0.35). Tango Therapeutics had a negative return on equity of 79.72% and a negative net margin of 599.11%.The business had revenue of $3.18 million for the quarter, compared to the consensus estimate of $6.41 million. On average, research analysts forecast that Tango Therapeutics will post -1.19 EPS for the current year.
Insider Buying and Selling
In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 1,100,000 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $7.01, for a total value of $7,711,000.00. Following the completion of the transaction, the insider owned 15,759,075 shares of the company's stock, valued at $110,471,115.75. This represents a 6.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders sold 2,995,100 shares of company stock valued at $21,504,700. Corporate insiders own 7.50% of the company's stock.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. CWM LLC lifted its stake in shares of Tango Therapeutics by 182.2% in the 2nd quarter. CWM LLC now owns 4,905 shares of the company's stock valued at $25,000 after purchasing an additional 3,167 shares during the period. Legal & General Group Plc raised its stake in shares of Tango Therapeutics by 30.7% in the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company's stock valued at $36,000 after purchasing an additional 1,640 shares during the period. Ameritas Investment Partners Inc. raised its stake in shares of Tango Therapeutics by 78.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,830 shares of the company's stock valued at $40,000 after purchasing an additional 3,452 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Tango Therapeutics by 44.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company's stock valued at $49,000 after acquiring an additional 2,907 shares in the last quarter. Finally, Northeast Financial Consultants Inc bought a new position in shares of Tango Therapeutics in the 2nd quarter valued at about $51,000. 78.99% of the stock is currently owned by institutional investors.
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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