Tango Therapeutics, Inc. (NASDAQ:TNGX) Expected to Post Q2 2024 Earnings of ($0.34) Per Share

Tango Therapeutics, Inc. (NASDAQ:TNGX) – Investment analysts at B. Riley issued their Q2 2024 earnings per share (EPS) estimates for shares of Tango Therapeutics in a report issued on Monday, April 15th. B. Riley analyst Y. Zhi expects that the company will earn ($0.34) per share for the quarter. The consensus estimate for Tango Therapeutics’ current full-year earnings is ($1.28) per share. B. Riley also issued estimates for Tango Therapeutics’ FY2024 earnings at ($1.36) EPS and FY2025 earnings at ($1.37) EPS.

Several other equities analysts have also recently weighed in on TNGX. HC Wainwright increased their price target on Tango Therapeutics from $16.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Wedbush reaffirmed an “outperform” rating and issued a $18.00 target price on shares of Tango Therapeutics in a report on Monday, March 18th. Cantor Fitzgerald began coverage on Tango Therapeutics in a report on Thursday, April 4th. They issued an “overweight” rating on the stock. Finally, Piper Sandler began coverage on Tango Therapeutics in a report on Monday, February 12th. They issued an “overweight” rating and a $18.00 target price on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $17.25.

Tango Therapeutics Price Performance

NASDAQ TNGX opened at $7.46 on Thursday. The business’s fifty day moving average price is $9.62 and its 200-day moving average price is $9.49. The stock has a market capitalization of $796.13 million, a price-to-earnings ratio of -6.78 and a beta of 0.83. Tango Therapeutics has a 1-year low of $2.47 and a 1-year high of $13.03.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Monday, March 18th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The firm had revenue of $5.43 million for the quarter, compared to the consensus estimate of $7.86 million. Tango Therapeutics had a negative net margin of 278.55% and a negative return on equity of 41.96%.

Insider Buying and Selling

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $12.00, for a total transaction of $1,950,000.00. Following the sale, the insider now directly owns 19,201,475 shares of the company’s stock, valued at $230,417,700. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Tango Therapeutics news, CEO Barbara Weber sold 4,681 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $12.56, for a total transaction of $58,793.36. Following the sale, the chief executive officer now directly owns 1,539,624 shares of the company’s stock, valued at $19,337,677.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $12.00, for a total value of $1,950,000.00. Following the sale, the insider now directly owns 19,201,475 shares in the company, valued at $230,417,700. The disclosure for this sale can be found here. In the last three months, insiders have sold 174,731 shares of company stock valued at $2,103,703. 6.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tango Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada purchased a new position in shares of Tango Therapeutics during the first quarter valued at about $32,000. Two Sigma Securities LLC purchased a new position in shares of Tango Therapeutics during the second quarter valued at about $40,000. Renaissance Technologies LLC purchased a new position in shares of Tango Therapeutics during the third quarter valued at about $41,000. XTX Topco Ltd purchased a new position in shares of Tango Therapeutics during the first quarter valued at about $44,000. Finally, HRT Financial LP purchased a new position in shares of Tango Therapeutics during the first quarter valued at about $45,000. 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.