Tango Therapeutics (NASDAQ:TNGX) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Tango Therapeutics (NASDAQ:TNGX) released its quarterly earnings data on Monday. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.02), Zacks reports. The company had revenue of $5.39 million during the quarter, compared to the consensus estimate of $6.73 million. Tango Therapeutics had a negative net margin of 284.42% and a negative return on equity of 49.64%.

Tango Therapeutics Price Performance

Shares of TNGX traded up $0.03 during mid-day trading on Tuesday, reaching $1.34. The company had a trading volume of 36,635 shares, compared to its average volume of 728,742. The company has a market capitalization of $144.32 million, a P/E ratio of -1.13 and a beta of 1.02. Tango Therapeutics has a twelve month low of $1.03 and a twelve month high of $12.02. The company’s 50-day moving average is $1.49 and its 200-day moving average is $2.63.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $13.00 target price on shares of Tango Therapeutics in a report on Monday, April 14th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $12.33.

Institutional Investors Weigh In On Tango Therapeutics

A hedge fund recently raised its stake in Tango Therapeutics stock. Invesco Ltd. lifted its holdings in shares of Tango Therapeutics, Inc. (NASDAQ:TNGX) by 138.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,517 shares of the company’s stock after purchasing an additional 40,983 shares during the period. Invesco Ltd. owned 0.07% of Tango Therapeutics worth $97,000 as of its most recent filing with the SEC. Institutional investors own 78.99% of the company’s stock.

Tango Therapeutics Company Profile

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.