Tango Therapeutics, Inc. Expected to Post Q1 2024 Earnings of ($0.33) Per Share (NASDAQ:TNGX)

Tango Therapeutics, Inc. (NASDAQ:TNGX) – Equities research analysts at B. Riley issued their Q1 2024 earnings per share (EPS) estimates for shares of Tango Therapeutics in a report issued on Monday, April 15th. B. Riley analyst Y. Zhi forecasts that the company will post earnings per share of ($0.33) for the quarter. The consensus estimate for Tango Therapeutics’ current full-year earnings is ($1.28) per share. B. Riley also issued estimates for Tango Therapeutics’ Q3 2024 earnings at ($0.34) EPS and Q4 2024 earnings at ($0.35) EPS.

Tango Therapeutics (NASDAQ:TNGX) last issued its quarterly earnings results on Monday, March 18th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). Tango Therapeutics had a negative return on equity of 41.96% and a negative net margin of 278.55%. The company had revenue of $5.43 million during the quarter, compared to the consensus estimate of $7.86 million.

Several other analysts also recently commented on the company. Piper Sandler started coverage on Tango Therapeutics in a research note on Monday, February 12th. They set an “overweight” rating and a $18.00 target price on the stock. Wedbush reaffirmed an “outperform” rating and set a $18.00 price objective on shares of Tango Therapeutics in a research report on Monday, March 18th. Cantor Fitzgerald started coverage on Tango Therapeutics in a research report on Thursday, April 4th. They issued an “overweight” rating for the company. Finally, HC Wainwright upped their target price on shares of Tango Therapeutics from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $17.25.

Tango Therapeutics Price Performance

Shares of Tango Therapeutics stock opened at $7.46 on Wednesday. Tango Therapeutics has a 1 year low of $2.47 and a 1 year high of $13.03. The firm’s 50-day moving average is $9.62 and its 200 day moving average is $9.49. The stock has a market cap of $796.13 million, a price-to-earnings ratio of -6.78 and a beta of 0.83.

Insider Activity at Tango Therapeutics

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

Institutional Trading of Tango Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada bought a new position in shares of Tango Therapeutics during the 1st quarter valued at approximately $32,000. AJOVista LLC bought a new position in Tango Therapeutics during the fourth quarter valued at $61,000. Virtus ETF Advisers LLC bought a new position in Tango Therapeutics during the fourth quarter valued at $90,000. Cowen AND Company LLC purchased a new position in shares of Tango Therapeutics in the 4th quarter worth $99,000. Finally, Occudo Quantitative Strategies LP bought a new stake in shares of Tango Therapeutics in the 2nd quarter worth about $50,000. 78.99% of the stock is currently owned by institutional investors.

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.