Tango Therapeutics (NASDAQ:TNGX) Posts Quarterly Earnings Results

Tango Therapeutics (NASDAQ:TNGX) issued its earnings results on Thursday. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.03), Zacks reports. Tango Therapeutics had a negative return on equity of 49.64% and a negative net margin of 284.42%.

Tango Therapeutics Stock Down 6.2 %

Shares of Tango Therapeutics stock traded down $0.15 on Thursday, hitting $2.19. The company’s stock had a trading volume of 401,787 shares, compared to its average volume of 699,606. The firm has a fifty day moving average price of $2.89 and a 200-day moving average price of $5.40. Tango Therapeutics has a 52-week low of $2.17 and a 52-week high of $12.02. The company has a market capitalization of $234.71 million, a P/E ratio of -1.85 and a beta of 0.80.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Tango Therapeutics in a research report on Thursday, December 5th. HC Wainwright reiterated a “buy” rating and issued a $13.00 price objective on shares of Tango Therapeutics in a research report on Friday, November 8th. B. Riley decreased their price objective on shares of Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Finally, Guggenheim decreased their price objective on shares of Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $12.33.

Insider Activity at Tango Therapeutics

In related news, CEO Barbara Weber sold 9,778 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $2.99, for a total value of $29,236.22. Following the completion of the transaction, the chief executive officer now owns 1,631,264 shares of the company’s stock, valued at approximately $4,877,479.36. The trade was a 0.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 24,268 shares of company stock valued at $72,561. 6.30% of the stock is owned by insiders.

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.