Tango Therapeutics (NASDAQ:TNGX) Shares Down 3%

Tango Therapeutics, Inc. (NASDAQ:TNGX)’s stock price fell 3% on Monday . The stock traded as low as $8.05 and last traded at $8.05. 21,977 shares were traded during trading, a decline of 97% from the average session volume of 739,687 shares. The stock had previously closed at $8.30.

Wall Street Analyst Weigh In

TNGX has been the topic of a number of research analyst reports. Guggenheim raised Tango Therapeutics to a “strong-buy” rating in a report on Tuesday, May 28th. Jefferies Financial Group assumed coverage on shares of Tango Therapeutics in a research report on Wednesday, July 17th. They set a “buy” rating and a $19.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a research note on Tuesday, July 9th. Wedbush raised their price target on shares of Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $13.00 price objective on shares of Tango Therapeutics in a research report on Tuesday, September 10th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Tango Therapeutics currently has a consensus rating of “Buy” and an average price target of $15.14.

Tango Therapeutics Price Performance

The business’s 50 day simple moving average is $9.92 and its 200 day simple moving average is $8.73. The stock has a market cap of $837.67 million, a P/E ratio of -6.88 and a beta of 0.84.

Tango Therapeutics (NASDAQ:TNGX) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate 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 business had revenue of $19.88 million for the quarter, compared to analyst estimates of $7.39 million. Research analysts predict that Tango Therapeutics, Inc. will post -1.27 earnings per share for the current year.

Insider Transactions at Tango Therapeutics

In related news, major shareholder Rock Ventures Iv L.P. Third sold 67,400 shares of Tango Therapeutics stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $10.53, for a total transaction of $709,722.00. Following the completion of the transaction, the insider now directly owns 16,859,075 shares of the company’s stock, valued at approximately $177,526,059.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 67,400 shares of Tango Therapeutics stock in a transaction on Friday, September 13th. The stock was sold at an average price of $10.53, for a total value of $709,722.00. Following the completion of the transaction, the insider now owns 16,859,075 shares in the company, valued at approximately $177,526,059.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mva Investors, Llc sold 29,000 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $8.57, for a total value of $248,530.00. Following the completion of the transaction, the insider now directly owns 314,524 shares in the company, valued at approximately $2,695,470.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,820,042 shares of company stock valued at $18,273,107. 6.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Tango Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Point72 DIFC Ltd acquired a new stake in shares of Tango Therapeutics in the second quarter valued at approximately $54,000. Paloma Partners Management Co acquired a new stake in shares of Tango Therapeutics in the 1st quarter valued at $80,000. Principal Financial Group Inc. bought a new stake in shares of Tango Therapeutics during the second quarter worth $90,000. Quarry LP bought a new position in Tango Therapeutics in the second quarter valued at about $99,000. Finally, Price T Rowe Associates Inc. MD increased its position in Tango Therapeutics by 12.6% in the first 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 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.