Tango Therapeutics Inc (NASDAQ:TNGX) Is Currently -5.0% Below Its 52-Week High, But Upside Potential Is Still There.

In last trading session, Tango Therapeutics Inc (NASDAQ:TNGX) saw 0.64 million shares changing hands with its beta currently measuring 0.95. Company’s recent per share price level of $12.41 trading at $0.25 or 2.06% at ring of the bell on the day assigns it a market valuation of $1.27B. That closing price of TNGX’s stock is at a discount of -5.0% from its 52-week high price of $13.03 and is indicating a premium of 80.1% 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 0.41 million shares which gives us an average trading volume of 645.10K if we extend that period to 3-months.

Tango Therapeutics Inc (NASDAQ:TNGX) trade information

Upright in the green during last session for gaining 2.06%, in the last five days TNGX remained trading in the red while hitting it’s week-highest on Wednesday, 02/07/24 when the stock touched $12.41 price level, adding 3.72% to its value on the day. Tango Therapeutics Inc’s shares saw a change of 25.35% in year-to-date performance and have moved -3.65% in past 5-day. Tango Therapeutics Inc (NASDAQ:TNGX) showed a performance of 25.99% in past 30-days. Number of shares sold short was 10.45 million shares which calculate 17.02 days to cover the short interests.

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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 89.76% of value to its shares in past 6 months, showing an annual growth rate of 13.01% while that of industry is 15.80. Apart from that, the company came raising its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to increase by 15.20% in the current quarter and calculating 6.30% increase in the next quarter. This year revenue growth is estimated to rise 56.40% 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 $8.62 million for the same. And 5 analysts are in estimates of company making revenue of $8.25 million in the next quarter that will end on Mar 2024. Company posted $6.41 million and $5.77 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 34.50% while estimating it to be 43.10% for the next quarter.

TNGX Dividends

Tango Therapeutics Inc is more likely to be releasing its next quarterly report between March 25 and March 29 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 14.21% of company’s total shares while institution are holding 93.51 percent of that, with stock having share float percentage of 109.00%. Investors also watch the number of corporate investors in a company very closely, which is 93.51% 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 $240.31 million. And as of Sep 29, 2023, it was holding 18.99% of the company’s outstanding shares.

The second largest institutional holder is FMR, LLC, which was holding about 11.65 million shares on Sep 29, 2023. The number of shares represents firm’s hold over 11.42% of outstanding shares, having a total worth of $144.52 million.

On the other hand, Vanguard Total Stock Market Index Fund and Fidelity Small Cap Growth Fund are the top two Mutual Funds which own company’s shares. As of Sep 29, 2023, the former fund manager was holding 1.7 million shares of worth $21.11 million or 1.67% of the total outstanding shares. The later fund manager was in possession of 1.26 million shares on Nov 29, 2023, making its stake of worth around $15.66 million in the company or a holder of 1.24% of company’s stock.

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