Leerink Partnrs Weighs in on Tango Therapeutics, Inc.’s Q2 2024 Earnings (NASDAQ:TNGX)

Tango Therapeutics, Inc. (NASDAQ:TNGXFree Report) – Analysts at Leerink Partnrs lowered their Q2 2024 EPS estimates for shares of Tango Therapeutics in a report released on Wednesday, May 8th. Leerink Partnrs analyst A. Berens now expects that the company will earn ($0.36) per share for the quarter, down from their previous estimate of ($0.31). The consensus estimate for Tango Therapeutics’ current full-year earnings is ($1.33) per share. Leerink Partnrs also issued estimates for Tango Therapeutics’ Q3 2024 earnings at ($0.33) EPS, Q4 2024 earnings at ($0.34) EPS, FY2024 earnings at ($1.39) EPS, FY2025 earnings at ($1.46) EPS, FY2026 earnings at ($1.74) EPS and FY2027 earnings at ($0.14) EPS.

Tango Therapeutics (NASDAQ:TNGXGet Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $7.86 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. HC Wainwright reiterated a “buy” rating and set a $17.00 price objective on shares of Tango Therapeutics in a research report on Thursday, May 9th. Cantor Fitzgerald began coverage on Tango Therapeutics in a research report on Thursday, April 4th. They set an “overweight” rating for the company. Wedbush reiterated an “outperform” rating and issued a $18.00 price target on shares of Tango Therapeutics in a report on Monday, March 18th. Finally, Piper Sandler started coverage on Tango Therapeutics in a research report on Monday, February 12th. They issued an “overweight” rating and a $18.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Tango Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $17.25.

View Our Latest Stock Analysis on TNGX

Tango Therapeutics Stock Performance

NASDAQ:TNGX opened at $7.31 on Monday. The firm has a market capitalization of $781.07 million, a PE ratio of -6.47 and a beta of 0.84. The stock’s fifty day moving average is $8.21 and its 200 day moving average is $9.35. Tango Therapeutics has a fifty-two week low of $2.47 and a fifty-two week high of $13.03.

Insiders Place Their Bets

In related news, 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 completion of the sale, the insider now directly owns 19,201,475 shares in the company, valued at $230,417,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 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 completion of the sale, the insider now owns 19,201,475 shares in the company, valued at $230,417,700. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mva Investors, Llc sold 60,000 shares of Tango Therapeutics stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $7.61, for a total value of $456,600.00. Following the completion of the transaction, the insider now owns 483,524 shares in the company, valued at $3,679,617.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 297,500 shares of company stock worth $2,963,850. 6.20% of the stock is currently owned by company insiders.

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 the business. AJOVista LLC purchased a new stake in Tango Therapeutics during the 4th quarter valued at about $61,000. Cowen AND Company LLC acquired a new position in Tango Therapeutics during the fourth quarter valued at $99,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Tango Therapeutics by 421.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,793 shares of the company’s stock valued at $117,000 after buying an additional 9,530 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Tango Therapeutics in the fourth quarter worth about $136,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Tango Therapeutics by 570.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,902 shares of the company’s stock worth $138,000 after purchasing an additional 11,829 shares in the last quarter. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

Tango Therapeutics Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for Tango Therapeutics (NASDAQ:TNGX)

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