B. Riley Expects Higher Earnings for Tango Therapeutics

Tango Therapeutics, Inc. (NASDAQ:TNGX) – Research analysts at B. Riley raised their FY2024 earnings per share (EPS) estimates for shares of Tango Therapeutics in a report released on Monday, November 11th. B. Riley analyst Y. Zhi now forecasts that the company will post earnings per share of ($1.21) for the year, up from their prior estimate of ($1.29). B. Riley currently has a “Buy” rating and a $8.00 target price on the stock. The consensus estimate for Tango Therapeutics’ current full-year earnings is ($1.19) per share. B. Riley also issued estimates for Tango Therapeutics’ Q4 2024 earnings at ($0.36) EPS and FY2025 earnings at ($1.49) EPS.

TNGX has been the subject of a number of other research reports. Wedbush lifted their target price on Tango Therapeutics from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Tango Therapeutics in a report on Friday, November 8th. Finally, Guggenheim reduced their target price on shares of Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Tango Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $13.14.

Tango Therapeutics Trading Down 1.8 %

NASDAQ:TNGX opened at $3.85 on Thursday. The firm has a fifty day simple moving average of $6.79 and a 200-day simple moving average of $8.17. Tango Therapeutics has a 12 month low of $2.70 and a 12 month high of $13.01. The company has a market capitalization of $413.56 million, a P/E ratio of -3.26 and a beta of 0.88.

Institutional Investors Weigh In On Tango Therapeutics

Institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its stake in Tango Therapeutics by 12.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,771 shares of the company’s stock worth $102,000 after purchasing an additional 1,426 shares during the period. The Manufacturers Life Insurance Company boosted its position in Tango Therapeutics by 8.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,511 shares of the company’s stock valued at $253,000 after buying an additional 2,218 shares during the period. SG Americas Securities LLC grew its stake in shares of Tango Therapeutics by 16.0% in the first quarter. SG Americas Securities LLC now owns 30,429 shares of the company’s stock worth $242,000 after acquiring an additional 4,203 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Tango Therapeutics during the second quarter worth $54,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Tango Therapeutics by 32.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,964 shares of the company’s stock valued at $230,000 after acquiring an additional 7,128 shares in the last quarter. 78.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Boxer Capital Management, Llc sold 633,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $6.87, for a total transaction of $4,348,710.00. Following the completion of the sale, the insider now directly owns 6,690,642 shares in the company, valued at approximately $45,964,710.54. This trade represents a 8.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Rock Ventures Iv L.P. Third sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $11.55, for a total transaction of $288,750.00. Following the sale, the insider now owns 17,176,475 shares of the company’s stock, valued at $198,388,286.25. This represents a 0.15 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,830,400 shares of company stock worth $23,835,132. Company insiders own 6.30% of the company’s stock.

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.