Key Points
- Insider sale: Jessica Newcomb sold 8,200 Tango Therapeutics shares at an average price of $24.22, for total proceeds of $198,604. Her remaining stake fell 12.18% to 59,121 shares.
- Financial performance: Tango reported quarterly EPS of -$0.37, missing analyst expectations of -$0.32. Analysts expect a full-year loss of approximately $1.41 per share.
- Analyst outlook: The stock has a consensus “Moderate Buy” rating and an average price target of $43.46, versus a recent share price near $24.63; institutional investors own 78.99% of the shares.
Tango Therapeutics, Inc. (NASDAQ:TNGX - Get Free Report) insider Jessica Newcomb sold 8,200 shares of the company's stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $24.22, for a total value of $198,604.00. Following the sale, the insider owned 59,121 shares of the company's stock, valued at $1,431,910.62. The trade was a 12.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Tango Therapeutics Stock Performance
Shares of TNGX stock opened at $24.63 on Friday. Tango Therapeutics, Inc. has a fifty-two week low of $6.69 and a fifty-two week high of $34.39. The stock's fifty day moving average price is $25.27 and its two-hundred day moving average price is $24.61. The company has a market cap of $4.15 billion, a PE ratio of -28.98 and a beta of 1.12.
Tango Therapeutics (NASDAQ:TNGX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.37) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.05). On average, equities analysts predict that Tango Therapeutics, Inc. will post -1.41 EPS for the current fiscal year.
Institutional Investors Weigh In On Tango Therapeutics
Hedge funds have recently added to or reduced their stakes in the business. Nykredit A S bought a new stake in Tango Therapeutics during the 2nd quarter worth approximately $26,000. Allworth Financial LP bought a new position in shares of Tango Therapeutics during the second quarter valued at $35,000. Global Retirement Partners LLC bought a new position in shares of Tango Therapeutics during the second quarter valued at $122,000. State of Wyoming acquired a new position in shares of Tango Therapeutics during the first quarter worth $128,000. Finally, AXQ Capital LP lifted its holdings in shares of Tango Therapeutics by 50.5% during the fourth quarter. AXQ Capital LP now owns 20,268 shares of the company's stock worth $180,000 after purchasing an additional 6,800 shares during the period. 78.99% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the stock. Raymond James Financial cut shares of Tango Therapeutics to a "hold" rating in a report on Thursday, June 25th. B. Riley Financial reiterated a "buy" rating on shares of Tango Therapeutics in a research report on Monday, June 8th. JPMorgan Chase & Co. began coverage on shares of Tango Therapeutics in a research note on Wednesday, July 15th. They issued an "overweight" rating and a $46.00 price objective for the company. Wall Street Zen lowered shares of Tango Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Finally, Mizuho boosted their target price on shares of Tango Therapeutics from $36.00 to $40.00 and gave the stock an "outperform" rating in a research note on Friday, July 17th. Thirteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $43.46.
Get Our Latest Report on TNGX
Tango Therapeutics Company Profile
(
Get Free Report)
Tango Therapeutics, Inc is a biotechnology company focused on discovering and developing medicines that target cancer vulnerabilities. The company uses genetic screening, functional genomics and drug-discovery technologies to identify cancer-specific dependencies that may be addressed with targeted therapies.
Tango's research activities center on precision oncology and immuno-oncology, including programs designed to selectively eliminate tumor cells or improve the ability of the immune system to recognize and attack cancer.
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