Tango Therapeutics (NASDAQ:TNGX) Stock Price Down 7%

Tango Therapeutics, Inc. (NASDAQ:TNGX) was down 7% during mid-day trading on Thursday . The company traded as low as $7.18 and last traded at $7.22. Approximately 178,537 shares changed hands during trading, a decline of 72% from the average daily volume of 643,188 shares. The stock had previously closed at $7.76.

Analysts Set New Price Targets

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

Tango Therapeutics Stock Down 5.5 %

The stock has a market capitalization of $782.40 million, a PE ratio of -6.62 and a beta of 0.83. The firm’s fifty day moving average price is $9.16 and its two-hundred day moving average price is $9.36.

Tango Therapeutics (NASDAQ:TNGX) last issued its earnings results on Monday, March 18th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.04). Tango Therapeutics had a negative net margin of 278.55% and a negative return on equity of 41.96%. The firm had revenue of $5.43 million during the quarter, compared to analyst estimates of $7.86 million. As a group, analysts predict that Tango Therapeutics, Inc. will post -1.28 EPS for the current year.

Insider Activity at Tango Therapeutics

In related news, insider Adam Crystal sold 4,288 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $12.56, for a total value of $53,857.28. Following the completion of the sale, the insider now directly owns 123,561 shares in the company, valued at $1,551,926.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tango Therapeutics news, insider Adam Crystal sold 4,288 shares of Tango Therapeutics stock in a transaction 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 sale, the insider now directly owns 123,561 shares in the company, valued at approximately $1,551,926.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Rock Ventures Iv L.P. Third sold 162,500 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $12.00, for a total transaction of $1,950,000.00. Following the sale, the insider now owns 19,201,475 shares of the company’s stock, valued at $230,417,700. The disclosure for this sale can be found here. Insiders have sold a total of 174,731 shares of company stock valued at $2,103,703 in the last 90 days. 6.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tango Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in Tango Therapeutics during the 3rd quarter valued at approximately $233,000. Bank of New York Mellon Corp raised its holdings in Tango Therapeutics by 9.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 154,673 shares of the company’s stock valued at $1,742,000 after acquiring an additional 13,418 shares during the last quarter. Strs Ohio increased its holdings in Tango Therapeutics by 71.9% in the 3rd quarter. Strs Ohio now owns 23,900 shares of the company’s stock valued at $269,000 after purchasing an additional 10,000 shares during the last quarter. Clear Harbor Asset Management LLC lifted its position in Tango Therapeutics by 22.2% in the third quarter. Clear Harbor Asset Management LLC now owns 20,131 shares of the company’s stock valued at $227,000 after acquiring an additional 3,657 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Tango Therapeutics by 56.2% during the third quarter. Barclays PLC now owns 87,882 shares of the company’s stock worth $990,000 after buying an additional 31,618 shares in the last quarter. Institutional investors own 78.99% of the company’s stock.

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.