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

Tango Therapeutics (NASDAQ:TNGX) posted its quarterly earnings data on Thursday. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.03), Zacks reports. Tango Therapeutics had a negative net margin of 284.42% and a negative return on equity of 49.64%.

Tango Therapeutics Price Performance

NASDAQ TNGX traded down $0.15 on Thursday, reaching $2.19. The company had a trading volume of 401,787 shares, compared to its average volume of 699,606. The firm has a market capitalization of $234.71 million, a PE ratio of -1.85 and a beta of 0.80. Tango Therapeutics has a 1 year low of $2.17 and a 1 year high of $12.02. The firm has a 50-day moving average of $2.89 and a 200-day moving average of $5.40.

Analyst Upgrades and Downgrades

TNGX has been the subject of a number of research analyst reports. Guggenheim dropped their price objective on shares of Tango Therapeutics from $18.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price objective on shares of Tango Therapeutics in a research note on Friday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Tango Therapeutics in a research note on Thursday, December 5th. Finally, B. Riley decreased their target price on Tango Therapeutics from $16.00 to $8.00 and set a “buy” rating for the company in a report on Monday, November 11th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $12.33.

Insiders Place Their Bets

In other Tango Therapeutics news, CEO Barbara Weber sold 9,778 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,631,264 shares in the company, valued at $4,877,479.36. This represents a 0.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 24,268 shares of company stock worth $72,561 in the last 90 days. 6.30% of the stock is owned by company insiders.

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.