Tango Therapeutics (NASDAQ:TNGX) Trading Down 8.4% – What’s Next?

Tango Therapeutics, Inc. (NASDAQ:TNGX)’s stock price traded down 8.4% during mid-day trading on Monday . The stock traded as low as $10.57 and last traded at $10.7660. 226,956 shares were traded during trading, a decline of 93% from the average session volume of 3,295,999 shares. The stock had previously closed at $11.75.

Wall Street Analyst Weigh In

TNGX has been the subject of several recent analyst reports. Wolfe Research initiated coverage on Tango Therapeutics in a research note on Tuesday, November 18th. They set a “peer perform” rating on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tango Therapeutics in a research note on Wednesday, October 8th. Stifel Nicolaus began coverage on shares of Tango Therapeutics in a research report on Wednesday, December 3rd. They set a “buy” rating and a $15.00 target price on the stock. Wall Street Zen raised shares of Tango Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a research note on Monday, October 27th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tango Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

Tango Therapeutics Stock Up 18.7%

The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -13.32 and a beta of 1.75. The business’s 50-day moving average is $9.32 and its 200-day moving average is $7.87.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.12. The business had revenue of $53.81 million during the quarter, compared to analyst estimates of $41.35 million. Tango Therapeutics had a negative return on equity of 60.80% and a negative net margin of 151.15%. As a group, analysts expect that Tango Therapeutics, Inc. will post -1.19 EPS for the current year.

Insider Transactions at Tango Therapeutics

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 477,401 shares of the business’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $10.15, for a total value of $4,845,620.15. Following the completion of the transaction, the insider directly owned 13,386,574 shares of the company’s stock, valued at approximately $135,873,726.10. The trade was a 3.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On Tango Therapeutics

Several large investors have recently made changes to their positions in TNGX. CWM LLC grew its position in Tango Therapeutics by 182.2% during the second quarter. CWM LLC now owns 4,905 shares of the company’s stock valued at $25,000 after buying an additional 3,167 shares during the period. Legal & General Group Plc boosted its stake in shares of Tango Therapeutics by 30.7% during the 2nd quarter. Legal & General Group Plc now owns 6,985 shares of the company’s stock worth $36,000 after acquiring an additional 1,640 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Tango Therapeutics by 461.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 7,729 shares of the company’s stock valued at $65,000 after acquiring an additional 6,352 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of Tango Therapeutics by 78.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,830 shares of the company’s stock valued at $40,000 after purchasing an additional 3,452 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Tango Therapeutics by 44.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,473 shares of the company’s stock valued at $49,000 after purchasing an additional 2,907 shares in the last quarter. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Tango Therapeutics Company Profile

Tango Therapeutics is a clinical-stage biotechnology company dedicated to developing precision medicines that exploit genetic vulnerabilities in cancer cells. Leveraging a proprietary synthetic lethality platform, the company identifies and targets tumor-specific dependencies in DNA damage response and related pathways. By focusing on tumor cell collateral sensitivities, Tango aims to bring differentiated small-molecule therapies to patients with genetic alterations that confer increased susceptibility to targeted inhibition.

The company’s lead pipeline comprises several early-stage programs, including inhibitors designed to selectively disable DNA repair proteins in tumor cells while sparing normal tissues.