Tango Therapeutics (NASDAQ:TNGX) Sets New 12-Month Low – What’s Next?

Tango Therapeutics, Inc. (NASDAQ:TNGX) hit a new 52-week low on Monday . The company traded as low as $5.07 and last traded at $5.11, with a volume of 104049 shares changing hands. The stock had previously closed at $5.15.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wedbush boosted their price target on Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and issued a $13.00 price target on shares of Tango Therapeutics in a report on Monday, October 28th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a report on Tuesday, July 9th. Finally, Jefferies Financial Group started coverage on Tango Therapeutics in a report on Wednesday, July 17th. They issued a “buy” rating and a $19.00 price target for the company. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $15.14.

Tango Therapeutics Trading Up 1.2 %

The firm has a market cap of $558.22 million, a price-to-earnings ratio of -4.52 and a beta of 0.88. The stock has a 50-day moving average of $8.17 and a 200-day moving average of $8.41.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.10. Tango Therapeutics had a negative return on equity of 44.73% and a negative net margin of 274.04%. The company had revenue of $19.88 million during the quarter, compared to analyst estimates of $7.39 million. As a group, research analysts expect that Tango Therapeutics, Inc. will post -1.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 135,000 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.79, for a total transaction of $1,321,650.00. Following the completion of the transaction, the insider now owns 17,351,475 shares in the company, valued at approximately $169,870,940.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Boxer Capital Management, Llc sold 633,000 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $6.87, for a total value of $4,348,710.00. Following the sale, the insider now owns 6,690,642 shares of the company’s stock, valued at approximately $45,964,710.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Rock Ventures Iv L.P. Third sold 135,000 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.79, for a total value of $1,321,650.00. Following the completion of the sale, the insider now directly owns 17,351,475 shares in the company, valued at $169,870,940.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,885,400 shares of company stock worth $15,485,582. 6.30% of the stock is owned by company insiders.

Institutional Trading of Tango Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its stake in shares of Tango Therapeutics by 64.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 20,607 shares of the company’s stock worth $159,000 after buying an additional 8,055 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Tango Therapeutics during the third quarter worth $151,000. Point72 DIFC Ltd acquired a new stake in shares of Tango Therapeutics during the second quarter worth $54,000. Point72 Asset Management L.P. acquired a new stake in shares of Tango Therapeutics during the second quarter worth $3,836,000. Finally, Quarry LP acquired a new stake in shares of Tango Therapeutics during the second quarter worth $99,000. Institutional investors own 78.99% of the company’s stock.

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.