Tango Therapeutics (NASDAQ:TNGX) Shares Up 3% – Should You Buy?

Shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) traded up 3% during mid-day trading on Wednesday . The stock traded as high as $7.20 and last traded at $6.88. 1,947,322 shares traded hands during mid-day trading, an increase of 20% from the average session volume of 1,623,936 shares. The stock had previously closed at $6.68.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price target on shares of Tango Therapeutics in a report on Monday, April 14th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $10.50.

Tango Therapeutics Stock Performance

The company has a 50-day simple moving average of $4.45 and a 200-day simple moving average of $2.88. The company has a market cap of $745.72 million, a price-to-earnings ratio of -5.64 and a beta of 1.63.

Tango Therapeutics (NASDAQ:TNGX) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.02). The firm had revenue of $5.39 million during the quarter, compared to analyst estimates of $6.73 million. Tango Therapeutics had a negative return on equity of 62.75% and a negative net margin of 322.67%. As a group, equities research analysts forecast that Tango Therapeutics, Inc. will post -1.19 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Tango Therapeutics during the fourth quarter worth about $33,000. Stonebrook Private Inc. purchased a new stake in shares of Tango Therapeutics during the fourth quarter worth about $34,000. Ameriprise Financial Inc. purchased a new stake in shares of Tango Therapeutics during the fourth quarter worth about $35,000. Sherbrooke Park Advisers LLC purchased a new stake in shares of Tango Therapeutics during the fourth quarter worth about $38,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Tango Therapeutics during the fourth quarter worth about $40,000. 78.99% of the stock is owned by hedge funds and other institutional investors.

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.