Tango Therapeutics (NASDAQ:TNGX) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Tango Therapeutics (NASDAQ:TNGX) announced its earnings results on Thursday. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.03), Zacks reports. Tango Therapeutics had a negative net margin of 284.42% and a negative return on equity of 49.64%.

Tango Therapeutics Trading Down 6.2 %

NASDAQ TNGX traded down $0.15 on Thursday, reaching $2.19. The company’s stock had a trading volume of 302,144 shares, compared to its average volume of 699,230. The business has a 50-day moving average price of $2.89 and a 200 day moving average price of $5.40. Tango Therapeutics has a 52 week low of $2.21 and a 52 week high of $12.02. The firm has a market cap of $234.71 million, a PE ratio of -1.88 and a beta of 0.80.

Insider Buying and Selling at Tango Therapeutics

In other Tango Therapeutics news, CEO Barbara Weber sold 9,778 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $2.99, for a total transaction of $29,236.22. Following the sale, the chief executive officer now owns 1,631,264 shares of the company’s stock, valued at $4,877,479.36. This represents a 0.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 24,268 shares of company stock valued at $72,561. 6.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. B. Riley lowered their price objective on Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Cantor Fitzgerald restated an “overweight” rating on shares of Tango Therapeutics in a report on Thursday, December 5th. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price target on shares of Tango Therapeutics in a research note on Friday, November 8th. Finally, Guggenheim decreased their price target on Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $12.33.

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.