Brokers Set Expectations for Tango Therapeutics, Inc.’s Q1 2024 Earnings (NASDAQ:TNGX)

Tango Therapeutics, Inc. (NASDAQ:TNGXFree Report) – Analysts at Leerink Partnrs issued their Q1 2024 earnings estimates for shares of Tango Therapeutics in a note issued to investors on Monday, February 5th. Leerink Partnrs analyst A. Berens expects that the company will earn ($0.30) per share for the quarter. The consensus estimate for Tango Therapeutics’ current full-year earnings is ($1.07) per share. Leerink Partnrs also issued estimates for Tango Therapeutics’ Q2 2024 earnings at ($0.30) EPS.

Tango Therapeutics (NASDAQ:TNGXGet Free Report) last posted its earnings results on Wednesday, November 8th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.11. Tango Therapeutics had a negative net margin of 266.73% and a negative return on equity of 41.41%. The firm had revenue of $10.73 million during the quarter, compared to analysts’ expectations of $8.05 million.

Separately, B. Riley initiated coverage on shares of Tango Therapeutics in a research report on Friday, December 8th. They issued a “buy” rating and a $16.00 target price for the company.

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Tango Therapeutics Trading Down 4.4 %

NASDAQ TNGX opened at $12.16 on Wednesday. Tango Therapeutics has a 52 week low of $2.47 and a 52 week high of $13.03. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -10.95 and a beta of 0.95. The company has a 50-day moving average price of $10.48 and a two-hundred day moving average price of $8.56.

Institutional Trading of Tango Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new stake in Tango Therapeutics during the second quarter valued at approximately $48,000. Strs Ohio lifted its position in shares of Tango Therapeutics by 71.9% in the 3rd quarter. Strs Ohio now owns 23,900 shares of the company’s stock valued at $269,000 after acquiring an additional 10,000 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Tango Therapeutics in the 3rd quarter valued at approximately $233,000. L2 Asset Management LLC purchased a new stake in shares of Tango Therapeutics in the 3rd quarter valued at approximately $185,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Tango Therapeutics by 9.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 154,673 shares of the company’s stock valued at $1,742,000 after acquiring an additional 13,418 shares in the last quarter. 78.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Adam Crystal sold 4,288 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $12.56, for a total value of $53,857.28. Following the completion of the transaction, the insider now directly owns 123,561 shares in the company, valued at $1,551,926.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Barbara Weber sold 4,681 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 1,539,624 shares of the company’s stock, valued at $19,337,677.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Adam Crystal sold 4,288 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $12.56, for a total transaction of $53,857.28. Following the sale, the insider now directly owns 123,561 shares of the company’s stock, valued at $1,551,926.16. The disclosure for this sale can be found here. Insiders sold 12,231 shares of company stock worth $153,703 over the last three months. Corporate insiders own 6.20% of the company’s stock.

Tango Therapeutics Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for Tango Therapeutics (NASDAQ:TNGX)

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