FY2024 EPS Estimate for Tango Therapeutics Raised by Analyst

Tango Therapeutics, Inc. (NASDAQ:TNGX) – Research analysts at Leerink Partnrs increased their FY2024 earnings per share (EPS) estimates for Tango Therapeutics in a report released on Wednesday, November 6th. Leerink Partnrs analyst A. Berens now forecasts that the company will post earnings per share of ($1.11) for the year, up from their prior estimate of ($1.25). The consensus estimate for Tango Therapeutics’ current full-year earnings is ($1.23) per share. Leerink Partnrs also issued estimates for Tango Therapeutics’ Q4 2024 earnings at ($0.25) EPS, FY2025 earnings at ($1.35) EPS, FY2026 earnings at ($1.50) EPS and FY2027 earnings at ($2.07) EPS.

A number of other research firms have also recently commented on TNGX. Wedbush increased their target price on Tango Therapeutics from $11.00 to $13.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Guggenheim reduced their price objective on Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Jefferies Financial Group assumed coverage on Tango Therapeutics in a research note on Wednesday, July 17th. They set a “buy” rating and a $19.00 price objective on the stock. B. Riley reduced their price objective on Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $13.00 price objective on shares of Tango Therapeutics in a research note on Friday. Eight analysts have rated the stock with a buy rating, According to MarketBeat, Tango Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $13.14.

Tango Therapeutics Trading Up 14.6 %

Shares of TNGX stock opened at $3.38 on Monday. Tango Therapeutics has a 52-week low of $2.70 and a 52-week high of $13.01. The business’s fifty day moving average is $7.41 and its 200 day moving average is $8.29.

Insider Activity

In related news, major shareholder Rock Ventures Iv L.P. Third sold 175,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $11.60, for a total value of $2,030,000.00. Following the completion of the transaction, the insider now directly owns 17,001,475 shares in the company, valued at $197,217,110. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tango Therapeutics news, insider Boxer Capital Management, Llc sold 633,000 shares of Tango Therapeutics stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $6.87, for a total value of $4,348,710.00. Following the completion of the sale, the insider now owns 6,690,642 shares of the company’s stock, valued at approximately $45,964,710.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Rock Ventures Iv L.P. Third sold 175,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $11.60, for a total transaction of $2,030,000.00. Following the sale, the insider now directly owns 17,001,475 shares of the company’s stock, valued at approximately $197,217,110. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,965,400 shares of company stock worth $25,156,782. Insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Tango Therapeutics

Hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. bought a new stake in shares of Tango Therapeutics during the 2nd quarter valued at $3,836,000. Vanguard Group Inc. grew its position in shares of Tango Therapeutics by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 3,080,885 shares of the company’s stock valued at $24,462,000 after acquiring an additional 101,673 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Tango Therapeutics by 32.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,964 shares of the company’s stock valued at $230,000 after acquiring an additional 7,128 shares during the period. Quarry LP bought a new stake in shares of Tango Therapeutics during the 2nd quarter valued at $99,000. Finally, Point72 DIFC Ltd bought a new stake in shares of Tango Therapeutics during the 2nd quarter valued at $54,000. Institutional investors own 78.99% 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.