B. Riley Comments on Tango Therapeutics, Inc.’s Q2 2024 Earnings (NASDAQ:TNGX)

Tango Therapeutics, Inc. (NASDAQ:TNGX) – Investment analysts at B. Riley issued their Q2 2024 earnings per share estimates for shares of Tango Therapeutics in a research note issued on Monday, April 15th. B. Riley analyst Y. Zhi anticipates that the company will post earnings of ($0.34) per share 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’ FY2024 earnings at ($1.36) EPS and FY2025 earnings at ($1.37) EPS.

Other equities analysts have also recently issued research reports about the company. Wedbush restated an “outperform” rating and issued a $18.00 price target on shares of Tango Therapeutics in a report on Monday, March 18th. HC Wainwright upped their price target on Tango Therapeutics from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Cantor Fitzgerald assumed coverage on Tango Therapeutics in a report on Thursday, April 4th. They issued an “overweight” rating for the company. Finally, Piper Sandler assumed coverage on Tango Therapeutics in a report on Monday, February 12th. They issued an “overweight” rating and a $18.00 price target for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $17.25.

Tango Therapeutics Stock Performance

Shares of NASDAQ:TNGX opened at $7.31 on Thursday. Tango Therapeutics has a 1 year low of $2.47 and a 1 year high of $13.03. The stock has a market capitalization of $780.12 million, a P/E ratio of -6.65 and a beta of 0.83. The stock has a 50-day simple moving average of $9.42 and a 200-day simple moving average of $9.45.

Tango Therapeutics (NASDAQ:TNGX) last issued its earnings results on Monday, March 18th. The company reported ($0.32) earnings per share (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 firm had revenue of $5.43 million for the quarter, compared to analysts’ expectations of $7.86 million.

Insider Activity

In other news, CEO Barbara Weber sold 4,681 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $12.56, for a total transaction 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 approximately $19,337,677.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Barbara Weber sold 4,681 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $12.56, for a total transaction 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 approximately $19,337,677.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 value of $53,857.28. Following the transaction, the insider now owns 123,561 shares of the company’s stock, valued at $1,551,926.16. The disclosure for this sale can be found here. In the last three months, insiders sold 174,731 shares of company stock worth $2,103,703. 6.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tango Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in TNGX. Royal Bank of Canada acquired a new stake in shares of Tango Therapeutics during the 1st quarter valued at approximately $32,000. Two Sigma Securities LLC acquired a new stake in shares of Tango Therapeutics during the 2nd quarter valued at approximately $40,000. Renaissance Technologies LLC acquired a new stake in shares of Tango Therapeutics during the 3rd quarter valued at approximately $41,000. XTX Topco Ltd acquired a new stake in shares of Tango Therapeutics during the 1st quarter valued at approximately $44,000. Finally, HRT Financial LP acquired a new stake in shares of Tango Therapeutics during the 1st quarter valued at approximately $45,000. 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.