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

Tango Therapeutics, Inc. (NASDAQ:TNGX) – Research analysts at B. Riley issued their Q2 2024 EPS estimates for Tango Therapeutics in a report released 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.

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

TNGX has been the subject of a number of other reports. Cantor Fitzgerald assumed coverage on shares of Tango Therapeutics in a research note on Thursday, April 4th. They set an “overweight” rating for the company. HC Wainwright upped their target price on shares of Tango Therapeutics from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Wedbush reaffirmed an “outperform” rating and set a $18.00 price target on shares of Tango Therapeutics in a research note on Monday, March 18th. Finally, Piper Sandler assumed coverage on Tango Therapeutics in a report on Monday, February 12th. They issued an “overweight” rating and a $18.00 price target for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $17.25.

Tango Therapeutics Price Performance

Tango Therapeutics stock opened at $7.37 on Thursday. Tango Therapeutics has a 1-year low of $2.47 and a 1-year high of $13.03. The company’s 50-day moving average is $9.52 and its 200 day moving average is $9.47. The firm has a market capitalization of $786.53 million, a P/E ratio of -6.70 and a beta of 0.83.

Hedge Funds Weigh In On Tango Therapeutics

A number of institutional investors have recently bought and sold shares of TNGX. Royal Bank of Canada purchased a new position in shares of Tango Therapeutics during the 1st quarter valued at about $32,000. Two Sigma Securities LLC acquired a new stake in Tango Therapeutics during the second quarter worth about $40,000. Renaissance Technologies LLC purchased a new position in Tango Therapeutics during the third quarter valued at approximately $41,000. XTX Topco Ltd acquired a new position in Tango Therapeutics in the first quarter valued at approximately $44,000. Finally, HRT Financial LP purchased a new stake in Tango Therapeutics in the 1st quarter worth approximately $45,000. 78.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tango Therapeutics

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 value of $1,950,000.00. Following the completion of the sale, the insider now owns 19,201,475 shares of the company’s stock, valued at $230,417,700. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Barbara Weber sold 4,681 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $12.56, for a total value of $58,793.36. Following the transaction, the chief executive officer now directly owns 1,539,624 shares of the company’s stock, valued at approximately $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 Tango Therapeutics stock in a transaction dated Tuesday, February 20th. The stock was 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 of the company’s stock, valued at approximately $230,417,700. The disclosure for this sale can be found here. Insiders sold 174,731 shares of company stock valued at $2,103,703 in the last quarter. 6.20% of the stock is currently owned by corporate insiders.

About Tango Therapeutics

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.