Tango Therapeutics (NASDAQ:TNGX) Releases Earnings Results, Misses Estimates By $0.03 EPS

Tango Therapeutics (NASDAQ:TNGX) announced its earnings results on Thursday. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.03), Zacks reports. The company had revenue of $4.12 million during the quarter, compared to the consensus estimate of $7.84 million. Tango Therapeutics had a negative net margin of 284.42% and a negative return on equity of 49.64%.

Tango Therapeutics Stock Performance

Shares of TNGX opened at $2.07 on Friday. Tango Therapeutics has a 52 week low of $1.97 and a 52 week high of $12.02. The stock has a 50 day moving average price of $2.86 and a two-hundred day moving average price of $5.34. The firm has a market capitalization of $222.36 million, a P/E ratio of -1.75 and a beta of 0.80.

Insider Activity at Tango Therapeutics

In related news, CEO Barbara Weber sold 9,778 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $2.99, for a total value of $29,236.22. Following the completion of the sale, the chief executive officer now directly owns 1,631,264 shares of the company’s stock, valued at approximately $4,877,479.36. This represents a 0.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 24,268 shares of company stock valued at $72,561 over the last 90 days. Insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TNGX. HC Wainwright reiterated a “buy” rating and set a $13.00 price objective on shares of Tango Therapeutics in a report on Friday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tango Therapeutics in a research report on Thursday, December 5th. Guggenheim cut their price target on Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, B. Riley reduced their price objective on Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Tango Therapeutics currently has an average rating of “Buy” and a consensus target price of $12.33.

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.