Tango Therapeutics (NASDAQ:TNGX) Announces Quarterly Earnings Results

Tango Therapeutics (NASDAQ:TNGX) posted its quarterly earnings data on Monday. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.04), FiscalAI reports.

Tango Therapeutics Price Performance

Shares of NASDAQ TNGX opened at $21.50 on Monday. Tango Therapeutics has a one year low of $7.37 and a one year high of $34.39. The business’s fifty day moving average price is $23.34 and its 200-day moving average price is $22.48. The stock has a market capitalization of $3.63 billion, a PE ratio of -25.29 and a beta of 1.26.

Insider Buying and Selling

In other news, insider Jessica Newcomb sold 7,031 shares of the company’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $22.42, for a total transaction of $157,635.02. Following the sale, the insider directly owned 52,090 shares in the company, valued at $1,167,857.80. This represents a 11.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Adam Crystal sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $22.42, for a total transaction of $112,100.00. Following the completion of the transaction, the insider owned 115,743 shares of the company’s stock, valued at $2,594,958.06. This trade represents a 4.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 47,231 shares of company stock worth $1,129,029 over the last 90 days. 6.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TNGX. JPMorgan Chase & Co. initiated coverage on shares of Tango Therapeutics in a report on Wednesday, July 15th. They issued an “overweight” rating and a $46.00 price target on the stock. Weiss Ratings upgraded shares of Tango Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. HC Wainwright restated a “buy” rating and set a $68.00 price objective on shares of Tango Therapeutics in a report on Thursday, October 29th. Guggenheim lifted their price objective on shares of Tango Therapeutics from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Mizuho lifted their price objective on shares of Tango Therapeutics from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Thirteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.62.

Tango Therapeutics Company Profile

Tango Therapeutics is a biotechnology company focused on discovering and developing precision medicines for cancer. Based in Cambridge, Massachusetts, the company aims to develop treatments that exploit genetic differences between cancer cells and healthy cells.

Its research centers on synthetic lethality, an approach that seeks to identify vulnerabilities created when cancer cells lose or alter particular genes. Tango uses this strategy to find drug targets and develop investigational therapies for tumors with specific genetic alterations.

Founded in 2017, Tango was established to apply advances in cancer genetics and functional genomics to drug discovery.