HC Wainwright Comments on Tango Therapeutics, Inc.’s Q3 2024 Earnings (NASDAQ:TNGX)

Tango Therapeutics, Inc. (NASDAQ:TNGX) – HC Wainwright increased their Q3 2024 EPS estimates for shares of Tango Therapeutics in a note issued to investors on Thursday, August 8th. HC Wainwright analyst R. Burns now expects that the company will earn ($0.36) per share for the quarter, up from their prior estimate of ($0.38). HC Wainwright currently has a “Buy” rating and a $13.00 target price on the stock. The consensus estimate for Tango Therapeutics’ current full-year earnings is ($1.33) per share. HC Wainwright also issued estimates for Tango Therapeutics’ Q4 2024 earnings at ($0.37) EPS, FY2024 earnings at ($1.32) EPS, Q1 2025 earnings at ($0.38) EPS, Q2 2025 earnings at ($0.40) EPS, Q3 2025 earnings at ($0.41) EPS, Q4 2025 earnings at ($0.42) EPS and FY2025 earnings at ($1.61) EPS.

Tango Therapeutics (NASDAQ:TNGX) last issued its earnings results on Wednesday, August 7th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.10. Tango Therapeutics had a negative return on equity of 44.35% and a negative net margin of 299.88%. The company had revenue of $19.88 million during the quarter, compared to the consensus estimate of $7.39 million.

TNGX has been the topic of several other research reports. Jefferies Financial Group started coverage on Tango Therapeutics in a research report on Wednesday, July 17th. They set a “buy” rating and a $19.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Tango Therapeutics in a research report on Tuesday, July 9th. Wedbush lifted their price target on shares of Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Guggenheim upgraded Tango Therapeutics to a “strong-buy” rating in a research note on Tuesday, May 28th. Finally, Barclays dropped their price objective on Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, May 24th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $15.14.

Tango Therapeutics Price Performance

TNGX stock opened at $9.05 on Monday. The stock has a market cap of $966.96 million, a price-to-earnings ratio of -8.01 and a beta of 0.83. The company has a fifty day moving average price of $9.02 and a two-hundred day moving average price of $9.03. Tango Therapeutics has a one year low of $5.15 and a one year high of $13.03.

Insider Buying and Selling at Tango Therapeutics

In related news, insider Mva Investors, Llc sold 63,000 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $7.24, for a total transaction of $456,120.00. Following the completion of the sale, the insider now directly owns 420,524 shares in the company, valued at approximately $3,044,593.76. The sale was disclosed in a filing with the SEC, which is available through this link. In other Tango Therapeutics news, insider Mva Investors, Llc sold 63,000 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $7.24, for a total transaction of $456,120.00. Following the sale, the insider now owns 420,524 shares of the company’s stock, valued at $3,044,593.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Rock Ventures Iv L.P. Third sold 550,171 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $9.79, for a total value of $5,386,174.09. Following the completion of the transaction, the insider now owns 18,651,304 shares of the company’s stock, valued at $182,596,266.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,255,642 shares of company stock valued at $11,998,605. 6.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Artal Group S.A. acquired a new position in shares of Tango Therapeutics in the 1st quarter worth approximately $17,427,000. RTW Investments LP bought a new stake in Tango Therapeutics during the fourth quarter valued at $19,471,000. Boxer Capital LLC grew its holdings in Tango Therapeutics by 15.1% during the 4th quarter. Boxer Capital LLC now owns 8,198,642 shares of the company’s stock worth $81,167,000 after acquiring an additional 1,075,000 shares during the period. Mass General Brigham Inc bought a new position in shares of Tango Therapeutics in the 1st quarter worth about $2,812,000. Finally, Vanguard Group Inc. lifted its stake in shares of Tango Therapeutics by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock valued at $24,462,000 after purchasing an additional 101,673 shares during the period. 78.99% of the stock is owned by 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.