Wedbush Research Analysts Reduce Earnings Estimates for Tango Therapeutics, Inc. (NASDAQ:TNGX)

Tango Therapeutics, Inc. (NASDAQ:TNGX) – Analysts at Wedbush lowered their FY2028 earnings per share (EPS) estimates for shares of Tango Therapeutics in a research report issued to clients and investors on Wednesday, August 7th. Wedbush analyst R. Driscoll now expects that the company will post earnings per share of $0.33 for the year, down from their previous forecast of $0.34. Wedbush currently has a “Outperform” rating and a $13.00 price target on the stock. The consensus estimate for Tango Therapeutics’ current full-year earnings is ($1.33) per share.

Tango Therapeutics (NASDAQ:TNGX) last announced its earnings results on Wednesday, May 8th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.04). The business had revenue of $6.47 million for the quarter, compared to the consensus estimate of $7.13 million. Tango Therapeutics had a negative net margin of 299.88% and a negative return on equity of 44.35%.

TNGX has been the topic of a number of other research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Tango Therapeutics in a research report on Tuesday, July 9th. HC Wainwright reiterated a “buy” rating and issued a $13.00 target price on shares of Tango Therapeutics in a report on Tuesday, July 9th. Jefferies Financial Group started coverage on shares of Tango Therapeutics in a research note on Wednesday, July 17th. They set a “buy” rating and a $19.00 price target for the company. Barclays decreased their target price on shares of Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Finally, Guggenheim raised Tango Therapeutics to a “strong-buy” rating in a research report on Tuesday, May 28th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tango Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $15.14.

Tango Therapeutics Stock Up 0.4 %

TNGX traded up $0.04 during trading on Friday, hitting $8.95. The company’s stock had a trading volume of 27,366 shares, compared to its average volume of 682,391. The firm has a market capitalization of $956.27 million, a P/E ratio of -7.88 and a beta of 0.83. Tango Therapeutics has a twelve month low of $5.15 and a twelve month high of $13.03. The stock’s fifty day moving average price is $8.92 and its 200-day moving average price is $9.14.

Insider Buying and Selling at Tango Therapeutics

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 550,171 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $9.79, for a total value of $5,386,174.09. Following the completion of the sale, the insider now owns 18,651,304 shares of the company’s stock, valued at $182,596,266.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Mva Investors, Llc sold 29,000 shares of Tango Therapeutics stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $8.57, for a total value of $248,530.00. Following the transaction, the insider now owns 314,524 shares in the company, valued at $2,695,470.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Rock Ventures Iv L.P. Third sold 550,171 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $9.79, for a total value of $5,386,174.09. Following the transaction, the insider now owns 18,651,304 shares in the company, valued at $182,596,266.16. The disclosure for this sale can be found here. Insiders have sold 1,255,642 shares of company stock worth $11,998,605 over the last 90 days. Corporate insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TNGX. AJOVista LLC purchased a new position in shares of Tango Therapeutics during the 4th quarter worth approximately $61,000. Paloma Partners Management Co purchased a new stake in Tango Therapeutics in the first quarter worth $80,000. Principal Financial Group Inc. bought a new position in Tango Therapeutics in the second quarter worth $90,000. Cowen AND Company LLC purchased a new position in Tango Therapeutics during the fourth quarter valued at $99,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Tango Therapeutics by 12.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock valued at $102,000 after buying an additional 1,426 shares in the last quarter. 78.99% of the stock is currently 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.