Tango Therapeutics (NASDAQ:TNGX) Stock Price Up 5.2%

Tango Therapeutics, Inc. (NASDAQ:TNGX)’s share price rose 5.2% during trading on Monday . The stock traded as high as $7.43 and last traded at $7.43. Approximately 19,478 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 743,628 shares. The stock had previously closed at $7.06.

Wall Street Analyst Weigh In

Separately, HC Wainwright upped their target price on Tango Therapeutics from $11.00 to $16.00 in a research report on Friday, August 11th.

Tango Therapeutics Price Performance

The firm has a 50-day moving average price of $5.04 and a 200 day moving average price of $4.28. The company has a market cap of $826.11 million, a price-to-earnings ratio of -6.22 and a beta of 1.43.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings results on Monday, August 7th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.10. The business had revenue of $14.60 million during the quarter, compared to analysts’ expectations of $7.00 million. Tango Therapeutics had a negative return on equity of 44.38% and a negative net margin of 317.04%. On average, equities analysts anticipate that Tango Therapeutics, Inc. will post -1.25 EPS for the current fiscal year.

Insider Activity at Tango Therapeutics

In related news, insider Boxer Capital, Llc purchased 475,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $5.15 per share, for a total transaction of $2,446,250.00. Following the completion of the purchase, the insider now owns 743,542 shares in the company, valued at approximately $3,829,241.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tango Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada bought a new stake in Tango Therapeutics during the first quarter worth $32,000. Occudo Quantitative Strategies LP bought a new position in shares of Tango Therapeutics in the 2nd quarter valued at $50,000. XTX Topco Ltd bought a new position in shares of Tango Therapeutics in the 1st quarter valued at $44,000. Renaissance Technologies LLC bought a new position in shares of Tango Therapeutics in the 3rd quarter valued at $41,000. Finally, HRT Financial LP bought a new position in shares of Tango Therapeutics in the 1st quarter valued at $45,000. 78.99% of the stock is currently owned by institutional investors.

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.