Tango Therapeutics (NASDAQ:TNGX) Shares Gap Up Following Analyst Upgrade

Tango Therapeutics, Inc. (NASDAQ:TNGX – Get Free Report)’s share price gapped up prior to trading on Friday after HC Wainwright raised their price target on the stock from $11.00 to $16.00. The stock had previously closed at $6.54, but opened at $6.93. Tango Therapeutics shares last traded at $7.12, with a volume of 479,595 shares changing hands.

Hedge Funds Weigh In On Tango Therapeutics

Several large investors have recently made changes to their positions in TNGX. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Tango Therapeutics by 11.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,521 shares of the company’s stock worth $156,000 after buying an additional 2,231 shares in the last quarter. Credit Suisse AG lifted its position in shares of Tango Therapeutics by 9.4% in the second quarter. Credit Suisse AG now owns 27,545 shares of the company’s stock worth $125,000 after buying an additional 2,361 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Tango Therapeutics by 15.6% in the first quarter. American Century Companies Inc. now owns 21,369 shares of the company’s stock worth $84,000 after buying an additional 2,888 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Tango Therapeutics by 21.5% in the first quarter. SG Americas Securities LLC now owns 22,444 shares of the company’s stock worth $89,000 after buying an additional 3,978 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of Tango Therapeutics by 24.5% in the first quarter. UBS Group AG now owns 20,492 shares of the company’s stock worth $81,000 after buying an additional 4,031 shares in the last quarter. 78.99% of the stock is currently owned by hedge funds and other institutional investors.

Get Tango Therapeutics alerts:

Tango Therapeutics Price Performance

The company has a market capitalization of $664.41 million, a PE ratio of -6.08 and a beta of 1.73. The business has a 50-day moving average of $3.52 and a 200 day moving average of $4.19.

Tango Therapeutics (NASDAQ:TNGX – Get Free Report) last issued its quarterly earnings data on Monday, August 7th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.10. Tango Therapeutics had a negative return on equity of 44.38% and a negative net margin of 317.04%. The company had revenue of $14.60 million for the quarter, compared to analysts’ expectations of $7.00 million. As a group, research analysts anticipate that Tango Therapeutics, Inc. will post -1.25 EPS for the current year.

About Tango Therapeutics

(Get Free Report)

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.

See Also

• Five stocks we like better than Tango Therapeutics
• What is the Nikkei 225 index?    
• Investing in Coffee: 3 Great Strategies to Consider
• What Makes a Stock a Good Dividend Stock?
• 5 Best Stocks to Buy in a Bear Market
• Biggest Stock Losers – Today’s Biggest Percentage Decliners
• 3 Pharmaceutical Stocks to Buy and Hold for the Long Haul

Receive News & Ratings for Tango Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tango Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.