Tango Therapeutics (NASDAQ:TNGX) Stock Price Down 7%

Tango Therapeutics, Inc. (NASDAQ:TNGX) shares traded down 7% during mid-day trading on Thursday . The stock traded as low as $7.18 and last traded at $7.22. 178,537 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 643,188 shares. The stock had previously closed at $7.76.

Analysts Set New Price Targets

A number of brokerages have weighed in on TNGX. Piper Sandler began coverage on Tango Therapeutics in a research report on Monday, February 12th. They set an “overweight” rating and a $18.00 price target on the stock. HC Wainwright boosted their price objective on shares of Tango Therapeutics from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Cantor Fitzgerald began coverage on shares of Tango Therapeutics in a research report on Thursday, April 4th. They set an “overweight” rating on the stock. Finally, Wedbush restated an “outperform” rating and set a $18.00 price target on shares of Tango Therapeutics in a research note on Monday, March 18th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $17.25.

Tango Therapeutics Stock Down 5.5 %

The company has a market capitalization of $782.40 million, a PE ratio of -6.62 and a beta of 0.83. The company’s 50 day moving average is $9.16 and its two-hundred day moving average is $9.36.

Tango Therapeutics (NASDAQ:TNGX) last posted its quarterly earnings data on Monday, March 18th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The firm had revenue of $5.43 million for the quarter, compared to the consensus estimate of $7.86 million. Tango Therapeutics had a negative return on equity of 41.96% and a negative net margin of 278.55%. Analysts forecast that Tango Therapeutics, Inc. will post -1.28 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.00, for a total value of $1,950,000.00. Following the sale, the insider now owns 19,201,475 shares of the company’s stock, valued at $230,417,700. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.00, for a total transaction of $1,950,000.00. Following the transaction, the insider now directly owns 19,201,475 shares in the company, valued at $230,417,700. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Barbara Weber sold 4,681 shares of Tango Therapeutics stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $12.56, for a total transaction of $58,793.36. Following the completion of the transaction, the chief executive officer now owns 1,539,624 shares in the company, valued at $19,337,677.44. The disclosure for this sale can be found here. Insiders sold a total of 174,731 shares of company stock valued at $2,103,703 over the last 90 days. 6.20% of the stock is owned by company insiders.

Institutional Trading of Tango Therapeutics

A number of institutional investors have recently modified their holdings of the company. Simplicity Wealth LLC acquired a new position in shares of Tango Therapeutics in the 1st quarter valued at approximately $214,000. Fishman Jay A Ltd. MI lifted its stake in Tango Therapeutics by 71.4% in the 1st quarter. Fishman Jay A Ltd. MI now owns 24,000 shares of the company’s stock worth $191,000 after acquiring an additional 10,000 shares in the last quarter. Mass General Brigham Inc purchased a new stake in shares of Tango Therapeutics during the 1st quarter worth about $2,812,000. Fisher Asset Management LLC purchased a new stake in shares of Tango Therapeutics during the 4th quarter worth about $997,000. Finally, Wellington Management Group LLP lifted its holdings in Tango Therapeutics by 110.8% in the 4th quarter. Wellington Management Group LLP now owns 170,228 shares of the company’s stock worth $1,685,000 after purchasing an additional 89,481 shares during the last quarter. Hedge funds and other 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.