In last trading session, Tango Therapeutics Inc. (NASDAQ:TNGX) saw 1.69 million shares changing hands with its beta currently measuring 1.40. Company’s recent per share price level of $8.51 trading at $0.27 or 3.28% at ring of the bell on the day assigns it a market valuation of $898.23M. That closing price of TNGX’s stock is at a discount of -10.34% from its 52-week high price of $9.39 and is indicating a premium of 70.98% from its 52-week low price of $2.47. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.68 million shares which gives us an average trading volume of 1.71 million if we extend that period to 3-months.
For Tango Therapeutics Inc. (TNGX), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 1.50. Splitting up the data highlights that, out of 5 analysts covering the stock, 0 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 4 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.34 in the current quarter.
Tango Therapeutics Inc. (NASDAQ:TNGX) trade information
Upright in the green during last session for gaining 3.28%, in the last five days TNGX remained trading in the green while hitting it’s week-highest on Friday, 09/15/23 when the stock touched $8.51 price level, adding 0.23% to its value on the day. Tango Therapeutics Inc.’s shares saw a change of 17.38% in year-to-date performance and have moved 20.54% in past 5-day. Tango Therapeutics Inc. (NASDAQ:TNGX) showed a performance of 24.42% in past 30-days. Number of shares sold short was 2.8 million shares which calculate 0.66 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $17.60 to the stock, which implies a rise of 51.65% to its current value. Analysts have been projecting $16.00 as a low price target for the stock while placing it at a high target of $20.00. It follows that stock’s current price would drop -135.02% in reaching the projected high whereas dropping to the targeted low would mean a loss of -88.01% for stock’s current value.
Tango Therapeutics Inc. (TNGX) estimates and forecasts
Statistics highlight that Tango Therapeutics Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company added 93.85% of value to its shares in past 6 months, showing an annual growth rate of -1.63% while that of industry is 12.00. Apart from that, the company came lowering its revenue forecast for fiscal year 2023. The company is estimating its revenue growth to decrease by -3.00% in the current quarter and calculating -12.10% decrease in the next quarter. This year revenue growth is estimated to rise 34.00% from the last financial year’s standing.
6 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $7.32 million for the same. And 6 analysts are in estimates of company making revenue of $6.52 million in the next quarter that will end on Dec 2023. Company posted $6.92 million and $6.41 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 5.80% while estimating it to be 1.70% for the next quarter.
Tango Therapeutics Inc. is more likely to be releasing its next quarterly report in October and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Tango Therapeutics Inc. (NASDAQ:TNGX)’s Major holders
Insiders are in possession of 15.32% of company’s total shares while institution are holding 79.50 percent of that, with stock having share float percentage of 93.89%. Investors also watch the number of corporate investors in a company very closely, which is 79.50% institutions for Tango Therapeutics Inc. that are currently holding shares of the company. TRV GP IV, LLC is the top institutional holder at TNGX for having 19.36 million shares of worth $64.29 million. And as of Jun 29, 2023, it was holding 19.03% of the company’s outstanding shares.
The second largest institutional holder is FMR, LLC, which was holding about 10.37 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 10.19% of outstanding shares, having a total worth of $34.42 million.
On the other hand, Fidelity Advisor Biotechnology Fund and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Jul 30, 2023, the former fund manager was holding 2.4 million shares of worth $8.13 million or 2.36% of the total outstanding shares. The later fund manager was in possession of 1.7 million shares on Jun 29, 2023, making its stake of worth around $5.65 million in the company or a holder of 1.67% of company’s stock.