B. Riley Increases Earnings Estimates for Tango Therapeutics

Tango Therapeutics, Inc. (NASDAQ:TNGX) – Investment analysts at B. Riley increased their FY2024 earnings per share estimates for Tango Therapeutics in a research report issued to clients and investors on Monday, November 11th. B. Riley analyst Y. Zhi now forecasts that the company will earn ($1.21) per share for the year, up from their prior forecast of ($1.29). B. Riley has a “Buy” rating and a $8.00 price objective on the stock. The consensus estimate for Tango Therapeutics’ current full-year earnings is ($1.20) per share. B. Riley also issued estimates for Tango Therapeutics’ Q4 2024 earnings at ($0.36) EPS and FY2025 earnings at ($1.49) EPS.

Several other research analysts have also commented on the stock. Guggenheim dropped their price objective on shares of Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Wedbush lifted their price target on shares of Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $13.00 price objective on shares of Tango Therapeutics in a research report on Friday, November 8th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tango Therapeutics has an average rating of “Buy” and an average target price of $13.14.

Tango Therapeutics Stock Performance

NASDAQ TNGX opened at $3.92 on Thursday. The business’s 50 day moving average price is $6.94 and its 200-day moving average price is $8.20. Tango Therapeutics has a fifty-two week low of $2.70 and a fifty-two week high of $13.01. The company has a market cap of $421.09 million, a P/E ratio of -3.28 and a beta of 0.88.

Hedge Funds Weigh In On Tango Therapeutics

Large investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in Tango Therapeutics by 32.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,964 shares of the company’s stock valued at $230,000 after acquiring an additional 7,128 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Tango Therapeutics by 16.0% in the 1st quarter. SG Americas Securities LLC now owns 30,429 shares of the company’s stock worth $242,000 after purchasing an additional 4,203 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Tango Therapeutics in the 1st quarter worth $272,000. Vanguard Group Inc. increased its holdings in shares of Tango Therapeutics by 3.4% during the first quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock valued at $24,462,000 after acquiring an additional 101,673 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Tango Therapeutics by 12.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock worth $102,000 after purchasing an additional 1,426 shares during the last quarter. 78.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder Rock Ventures Iv L.P. Third sold 175,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $11.60, for a total value of $2,030,000.00. Following the completion of the transaction, the insider now owns 17,001,475 shares of the company’s stock, valued at $197,217,110. The trade was a 1.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Boxer Capital Management, Llc sold 3,080,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $3.14, for a total value of $9,671,200.00. Following the sale, the insider now directly owns 3,610,642 shares in the company, valued at $11,337,415.88. This trade represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,830,400 shares of company stock worth $23,835,132 in the last three months. Corporate insiders own 6.30% of the company’s stock.

About Tango Therapeutics

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.