Tango Therapeutics (NASDAQ:TNGX) Issues Earnings Results

Tango Therapeutics (NASDAQ:TNGX) issued its quarterly earnings data 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 return on equity of 49.64% and a negative net margin of 284.42%.

Tango Therapeutics Price Performance

Shares of Tango Therapeutics stock traded down $0.15 on Thursday, reaching $2.19. 302,144 shares of the company were exchanged, compared to its average volume of 699,230. The company has a market cap of $234.71 million, a P/E ratio of -1.88 and a beta of 0.80. The stock’s 50 day moving average price is $2.89 and its 200-day moving average price is $5.40. Tango Therapeutics has a 1-year low of $2.21 and a 1-year high of $12.02.

Insider Activity at Tango Therapeutics

In related news, CEO Barbara Weber sold 9,778 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $2.99, for a total value of $29,236.22. Following the transaction, the chief executive officer now owns 1,631,264 shares in the company, valued at $4,877,479.36. The trade was a 0.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold 24,268 shares of company stock valued at $72,561 over the last three months. 6.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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