Tango Therapeutics, Inc. (NASDAQ:TNGX) Expected to Earn Q1 2024 Earnings of ($0.33) Per Share

Tango Therapeutics, Inc. (NASDAQ:TNGX) – Equities research analysts at B. Riley issued their Q1 2024 EPS estimates for Tango Therapeutics in a note issued to investors on Monday, April 15th. B. Riley analyst Y. Zhi expects that the company will post earnings of ($0.33) 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’ Q3 2024 earnings at ($0.34) EPS and Q4 2024 earnings at ($0.35) EPS.

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

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

Tango Therapeutics Trading Down 1.2 %

TNGX stock opened at $7.37 on Wednesday. The company has a market cap of $786.53 million, a PE ratio of -6.70 and a beta of 0.83. The stock has a 50-day moving average price of $9.52 and a two-hundred day moving average price of $9.47. Tango Therapeutics has a 12-month low of $2.47 and a 12-month high of $13.03.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Clear Harbor Asset Management LLC boosted its position in shares of Tango Therapeutics by 5.3% during the fourth quarter. Clear Harbor Asset Management LLC now owns 21,200 shares of the company’s stock worth $210,000 after buying an additional 1,069 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Tango Therapeutics by 11.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,345 shares of the company’s stock valued at $113,000 after acquiring an additional 1,129 shares during the period. California State Teachers Retirement System lifted its position in Tango Therapeutics by 2.6% in the second quarter. California State Teachers Retirement System now owns 61,401 shares of the company’s stock worth $204,000 after purchasing an additional 1,536 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Tango Therapeutics by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 369,066 shares of the company’s stock valued at $3,654,000 after purchasing an additional 1,709 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Tango Therapeutics by 8.3% during the 3rd quarter. American Century Companies Inc. now owns 23,718 shares of the company’s stock valued at $267,000 after purchasing an additional 1,826 shares during the period. 78.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tango Therapeutics

In other news, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.00, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.00, for a total transaction of $1,950,000.00. Following the sale, the insider now owns 19,201,475 shares in the company, valued at $230,417,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Barbara Weber sold 4,681 shares of Tango Therapeutics stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 1,539,624 shares of the company’s stock, valued at approximately $19,337,677.44. The disclosure for this sale can be found here. Insiders have sold a total of 174,731 shares of company stock valued at $2,103,703 in the last three months. Corporate insiders own 6.20% of the company’s stock.

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.