Tango Therapeutics (NASDAQ:TNGX) Share Price Breaks Above Fifty Day Moving Average After Earnings Miss

Tango Therapeutics, Inc. (NASDAQ:TNGX) crossed above its 50-day moving average during trading on Tuesday after the company announced better than expected quarterly earnings. The stock has a 50-day moving average of $23.35 and traded as high as $24.65. Tango Therapeutics shares last traded at $24.30, with a volume of 4,560,774 shares.

The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.04).

Key Tango Therapeutics News

Here are the key news stories impacting Tango Therapeutics this week:

• Positive Sentiment: A Phase 1/2 combination study of vopimetostat and daraxonrasib in second- and third-line pancreatic cancer reported an 82% objective response rate and 88% nine-month progression-free survival, with the regimen generally well tolerated. Tango expects to start a registrational Phase 3 trial in front-line MTAP-deleted pancreatic cancer in the first half of 2027. The company also reported $977.5 million in cash as of September 30. Tango Therapeutics Q3 2026 results and business highlights
• Positive Sentiment: JPMorgan raised its price target to $47 from $46 and maintained an Overweight rating, signaling continued optimism about TNGX’s prospects. JPMorgan analyst recommendations
• Neutral Sentiment: A report listed short interest at zero shares and a zero days-to-cover ratio. This unusually low reported figure offers little clear indication of investor positioning.
• Negative Sentiment: Tango reported a third-quarter loss of $0.39 per share, missing the analyst consensus estimate of a $0.35 loss by $0.04. Tango Therapeutics quarterly earnings press release
• Negative Sentiment: Wedbush cut its target to $40 from $45, while retaining an Outperform rating; HC Wainwright lowered its target to $67 from $68 but kept a Buy rating. The reductions temper the bullish analyst outlook, although both targets remain above the stock’s cited $24.30 price. Wedbush analyst recommendations HC Wainwright analyst recommendations

Analysts Set New Price Targets

Several research firms have recently commented on TNGX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tango Therapeutics in a research note on Wednesday, November 4th. Jefferies Financial Group reiterated a “buy” rating and issued a $65.00 price target on shares of Tango Therapeutics in a research note on Tuesday. Wall Street Zen cut Tango Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. William Blair initiated coverage on Tango Therapeutics in a research report on Friday, October 16th. They issued an “outperform” rating for the company. Finally, Zacks Research lowered shares of Tango Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 27th. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Tango Therapeutics has an average rating of “Moderate Buy” and an average target price of $45.54.

Insider Buying and Selling at Tango Therapeutics

In other news, insider Jessica Newcomb sold 7,031 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $22.42, for a total value of $157,635.02. Following the transaction, the insider directly owned 52,090 shares in the company, valued at approximately $1,167,857.80. This represents a 11.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Adam Crystal sold 5,000 shares of the company’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $22.42, for a total transaction of $112,100.00. Following the completion of the transaction, the insider owned 115,743 shares in the company, valued at $2,594,958.06. This represents a 4.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 47,231 shares of company stock valued at $1,129,029. Corporate insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Nykredit A S purchased a new stake in shares of Tango Therapeutics during the second quarter valued at about $26,000. Allworth Financial LP bought a new stake in shares of Tango Therapeutics in the 2nd quarter valued at about $35,000. Sterling Capital Management LLC boosted its holdings in shares of Tango Therapeutics by 838.8% in the 3rd quarter. Sterling Capital Management LLC now owns 4,647 shares of the company’s stock valued at $116,000 after buying an additional 4,152 shares in the last quarter. Global Retirement Partners LLC bought a new stake in shares of Tango Therapeutics in the 2nd quarter valued at about $122,000. Finally, State of Wyoming purchased a new position in shares of Tango Therapeutics in the 1st quarter worth approximately $128,000. 78.99% of the stock is owned by institutional investors.

Tango Therapeutics Trading Up 6.9%

The stock has a market cap of $4.10 billion, a PE ratio of -17.74 and a beta of 1.26. The business’s 50-day moving average price is $23.35 and its 200-day moving average price is $22.59.

Tango Therapeutics Company Profile

Tango Therapeutics is a biotechnology company focused on discovering and developing precision medicines for cancer. Based in Cambridge, Massachusetts, the company aims to develop treatments that exploit genetic differences between cancer cells and healthy cells. Its research centers on synthetic lethality, an approach that seeks to identify vulnerabilities created when cancer cells lose or alter particular genes. Tango uses this strategy to find drug targets and develop investigational therapies for tumors with specific genetic alterations.