B. Riley Research Analysts Lift Earnings Estimates for TNGX

Tango Therapeutics, Inc. (NASDAQ:TNGX) – Investment analysts at B. Riley upped their FY2024 earnings estimates for Tango Therapeutics in a research note issued to investors on Monday, November 11th. B. Riley analyst Y. Zhi now forecasts that the company will earn ($1.21) per share for the year, up from their previous forecast of ($1.29). B. Riley has a “Buy” rating and a $8.00 price objective on the stock. The consensus estimate for Tango Therapeutics’ current full-year earnings is ($1.19) per share. B. Riley also issued estimates for Tango Therapeutics’ Q4 2024 earnings at ($0.36) EPS and FY2025 earnings at ($1.49) EPS.

TNGX has been the topic of several other research reports. Wedbush boosted their price target on Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price target on shares of Tango Therapeutics in a report on Friday, November 8th. Finally, Guggenheim dropped their price objective on shares of Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $13.14.

Tango Therapeutics Price Performance

Shares of Tango Therapeutics stock opened at $3.85 on Thursday. The stock has a market capitalization of $413.56 million, a price-to-earnings ratio of -3.26 and a beta of 0.88. Tango Therapeutics has a 12 month low of $2.70 and a 12 month high of $13.01. The firm’s fifty day simple moving average is $6.79 and its 200-day simple moving average is $8.17.

Insider Activity

In other Tango Therapeutics news, major shareholder Rock Ventures Iv L.P. Third sold 25,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $11.55, for a total transaction of $288,750.00. Following the completion of the transaction, the insider now owns 17,176,475 shares of the company’s stock, valued at approximately $198,388,286.25. This trade represents a 0.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Boxer Capital Management, Llc sold 633,000 shares of Tango Therapeutics stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $6.87, for a total value of $4,348,710.00. Following the sale, the insider now owns 6,690,642 shares of the company’s stock, valued at approximately $45,964,710.54. This represents a 8.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,830,400 shares of company stock worth $23,835,132. Company insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

Several hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd acquired a new position in Tango Therapeutics during the second quarter worth approximately $54,000. Paloma Partners Management Co purchased a new stake in shares of Tango Therapeutics during the 1st quarter valued at $80,000. Quest Partners LLC increased its holdings in shares of Tango Therapeutics by 1,448.4% during the 3rd quarter. Quest Partners LLC now owns 10,885 shares of the company’s stock worth $84,000 after buying an additional 10,182 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Tango Therapeutics in the 2nd quarter worth $90,000. Finally, Quarry LP acquired a new position in Tango Therapeutics in the second quarter valued at $99,000. 78.99% of the stock is owned by institutional investors and hedge funds.

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.