Q3 2024 Earnings Estimate for Tango Therapeutics, Inc. Issued By Wedbush (NASDAQ:TNGX)

Tango Therapeutics, Inc. (NASDAQ:TNGX) – Investment analysts at Wedbush lowered their Q3 2024 earnings per share estimates for shares of Tango Therapeutics in a research report issued to clients and investors on Wednesday, August 7th. Wedbush analyst R. Driscoll now forecasts that the company will post earnings per share of ($0.30) for the quarter, down from their prior forecast of ($0.29). Wedbush 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. Wedbush also issued estimates for Tango Therapeutics’ Q4 2024 earnings at ($0.26) EPS, FY2024 earnings at ($1.13) EPS and FY2025 earnings at ($1.01) EPS.

Other equities analysts have also recently issued research reports about the company. Jefferies Financial Group initiated coverage on Tango Therapeutics in a research report on Wednesday, July 17th. They issued a “buy” rating and a $19.00 price target on the stock. Barclays cut their price target on Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, May 24th. Guggenheim raised Tango Therapeutics to a “strong-buy” rating in a report on Tuesday, May 28th. HC Wainwright reissued a “buy” rating and issued a $13.00 price objective on shares of Tango Therapeutics in a research note on Tuesday, July 9th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Tango Therapeutics in a research note on Tuesday, July 9th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $15.14.

Tango Therapeutics Stock Performance

Shares of NASDAQ:TNGX opened at $9.05 on Monday. Tango Therapeutics has a one year low of $5.15 and a one year high of $13.03. The stock has a market capitalization of $966.96 million, a price-to-earnings ratio of -8.01 and a beta of 0.83. The company has a 50-day simple moving average of $9.02 and a 200-day simple moving average of $9.03.

Tango Therapeutics (NASDAQ:TNGX) last announced its earnings results on Wednesday, August 7th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.10. The business had revenue of $19.88 million for the quarter, compared to analysts’ expectations of $7.39 million. Tango Therapeutics had a negative net margin of 299.88% and a negative return on equity of 44.35%.

Hedge Funds Weigh In On Tango Therapeutics

Institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Tango Therapeutics by 12.6% during the first 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 during the period. SG Americas Securities LLC boosted its holdings in shares of Tango Therapeutics by 16.0% during the first quarter. SG Americas Securities LLC now owns 30,429 shares of the company’s stock worth $242,000 after purchasing an additional 4,203 shares during the last quarter. AJOVista LLC purchased a new stake in shares of Tango Therapeutics in the fourth quarter valued at $61,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Tango Therapeutics by 32.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,964 shares of the company’s stock valued at $230,000 after purchasing an additional 7,128 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in Tango Therapeutics by 65.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 19,569 shares of the company’s stock worth $155,000 after buying an additional 7,776 shares during the period. 78.99% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tango Therapeutics news, insider Mva Investors, Llc sold 63,000 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $7.24, for a total value of $456,120.00. Following the completion of the transaction, the insider now directly owns 420,524 shares of the company’s stock, valued at $3,044,593.76. The sale was disclosed in a filing with the SEC, which is available at this link. In other Tango Therapeutics news, insider Mva Investors, Llc sold 63,000 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $7.24, for a total value of $456,120.00. Following the sale, the insider now owns 420,524 shares of the company’s stock, valued at $3,044,593.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Rock Ventures Iv L.P. Third sold 550,171 shares of Tango Therapeutics stock in a transaction 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 directly owns 18,651,304 shares of the company’s stock, valued at approximately $182,596,266.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,255,642 shares of company stock worth $11,998,605. 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.