B. Riley Research Analysts Decrease Earnings Estimates for Tango Therapeutics, Inc. (NASDAQ:TNGX)

Tango Therapeutics, Inc. (NASDAQ:TNGX) – Equities researchers at B. Riley cut their Q2 2024 EPS estimates for shares of Tango Therapeutics in a report released on Wednesday, July 10th. B. Riley analyst Y. Zhi now forecasts that the company will post earnings per share of ($0.39) for the quarter, down from their previous estimate of ($0.34). The consensus estimate for Tango Therapeutics’ current full-year earnings is ($1.31) per share. B. Riley also issued estimates for Tango Therapeutics’ Q3 2024 earnings at ($0.37) EPS, Q4 2024 earnings at ($0.42) EPS, FY2024 earnings at ($1.52) EPS and FY2025 earnings at ($1.49) EPS.

TNGX has been the subject of several other research reports. HC Wainwright restated a “buy” rating and issued a $13.00 price target on shares of Tango Therapeutics in a research note on Tuesday. Barclays dropped their price target on shares of Tango Therapeutics from $18.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, May 24th. Guggenheim upgraded shares of Tango Therapeutics to a “strong-buy” rating in a research note on Tuesday, May 28th. Cantor Fitzgerald restated an “overweight” rating on shares of Tango Therapeutics in a research note on Tuesday. Finally, Wedbush dropped their price target on shares of Tango Therapeutics from $18.00 to $11.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $14.17.

Tango Therapeutics Stock Up 3.6 %

NASDAQ:TNGX opened at $9.96 on Friday. The company has a fifty day simple moving average of $8.05 and a two-hundred day simple moving average of $9.23. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -8.81 and a beta of 0.83. Tango Therapeutics has a 52 week low of $2.88 and a 52 week high of $13.03.

Tango Therapeutics (NASDAQ:TNGX) last posted its earnings results on Wednesday, May 8th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.04). Tango Therapeutics had a negative net margin of 299.88% and a negative return on equity of 44.35%. The company had revenue of $6.47 million during the quarter, compared to analyst estimates of $7.13 million.

Institutional Investors Weigh In On Tango Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. AJOVista LLC purchased a new stake in shares of Tango Therapeutics in the fourth quarter valued at about $61,000. Paloma Partners Management Co purchased a new stake in shares of Tango Therapeutics in the first quarter valued at about $80,000. Cowen AND Company LLC purchased a new stake in shares of Tango Therapeutics in the fourth quarter valued at about $99,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Tango Therapeutics by 12.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock valued at $102,000 after buying an additional 1,426 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Tango Therapeutics by 421.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,793 shares of the company’s stock valued at $117,000 after buying an additional 9,530 shares during the last quarter. 78.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tango Therapeutics

In related news, insider Mva Investors, Llc sold 110,731 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $8.87, for a total value of $982,183.97. Following the completion of the sale, the insider now directly owns 203,793 shares of the company’s stock, valued at $1,807,643.91. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 337,731 shares of company stock valued at $2,700,684. Insiders own 6.20% of the company’s stock.

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.