Tango Therapeutics (NASDAQ:TNGX – Get Free Report) announced its quarterly earnings data on Monday. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.04), FiscalAI reports.
Tango Therapeutics Stock Up 5.8%
TNGX stock opened at $22.74 on Tuesday. Tango Therapeutics has a 52-week low of $7.49 and a 52-week high of $34.39. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of -26.75 and a beta of 1.26. The business has a fifty day moving average of $23.32 and a two-hundred day moving average of $22.53.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on TNGX. JPMorgan Chase & Co. began coverage on Tango Therapeutics in a research note on Wednesday, July 15th. They issued an “overweight” rating and a $46.00 target price for the company. Stifel Nicolaus set a $55.00 price target on shares of Tango Therapeutics in a research report on Friday, October 23rd. Wall Street Zen lowered shares of Tango Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. William Blair started coverage on shares of Tango Therapeutics in a research report on Friday, October 16th. They set an “outperform” rating for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tango Therapeutics in a research report on Wednesday, November 4th. Thirteen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.62.
View Our Latest Research Report on Tango Therapeutics
Insider Buying and Selling at Tango Therapeutics
In other news, insider Jessica Newcomb sold 8,200 shares of the stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $24.22, for a total transaction of $198,604.00. Following the completion of the transaction, the insider directly owned 59,121 shares in the company, valued at approximately $1,431,910.62. This represents a 12.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Adam Crystal sold 27,000 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $24.47, for a total value of $660,690.00. Following the sale, the insider directly owned 115,743 shares of the company’s stock, valued at $2,832,231.21. The trade was a 18.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 47,231 shares of company stock worth $1,129,029. Corporate insiders own 6.50% of the company’s stock.
Tango Therapeutics Company Profile
Tango Therapeutics is a biotechnology company focused on discovering and developing precision medicines for cancer. Based in Cambridge, Massachusetts, the company aims to develop treatments that exploit genetic differences between cancer cells and healthy cells.
Its research centers on synthetic lethality, an approach that seeks to identify vulnerabilities created when cancer cells lose or alter particular genes. Tango uses this strategy to find drug targets and develop investigational therapies for tumors with specific genetic alterations.
Founded in 2017, Tango was established to apply advances in cancer genetics and functional genomics to drug discovery.
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