Tango Therapeutics (NASDAQ:TNGX) Releases Earnings Results

Tango Therapeutics (NASDAQ:TNGX) posted its quarterly earnings results on Thursday. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.03), Zacks reports. Tango Therapeutics had a negative net margin of 284.42% and a negative return on equity of 49.64%.

Tango Therapeutics Stock Down 6.4 %

Shares of Tango Therapeutics stock opened at $2.18 on Friday. Tango Therapeutics has a 12-month low of $2.17 and a 12-month high of $12.02. The stock has a 50 day moving average price of $2.88 and a two-hundred day moving average price of $5.38. The stock has a market capitalization of $234.17 million, a P/E ratio of -1.85 and a beta of 0.80.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Tango Therapeutics in a research report on Thursday, December 5th. HC Wainwright reissued a “buy” rating and issued a $13.00 price target on shares of Tango Therapeutics in a research note on Friday, November 8th. B. Riley dropped their price objective on Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Finally, Guggenheim reduced their target price on shares of Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tango Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $12.33.

Insider Activity

In other news, CEO Barbara Weber sold 9,778 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $2.99, for a total value of $29,236.22. Following the sale, the chief executive officer now directly owns 1,631,264 shares of the company’s stock, valued at approximately $4,877,479.36. This trade represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 24,268 shares of company stock valued at $72,561 over the last 90 days. 6.30% of the stock is currently owned by company insiders.

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.