Boom Or Bust? Where Will Tango Therapeutics Inc (NASDAQ: TNGX) Stock Go Next?

During the last session, Tango Therapeutics Inc (NASDAQ:TNGX)’s traded shares were 1.08 million, with the beta value of the company hitting 0.85. At the end of the trading day, the stock’s price was $7.68, reflecting an intraday gain of 1.59% or $0.12. The 52-week high for the TNGX share is $13.03, that puts it down -69.66 from that peak though still a striking 67.84% gain since the share price plummeted to a 52-week low of $2.47. The company’s market capitalization is $819.61M, and the average intraday trading volume over the past 10 days was 0.68 million shares, and the average trade volume was 691.92K shares over the past three months.

Tango Therapeutics Inc (NASDAQ:TNGX) trade information

Tango Therapeutics Inc (TNGX) registered a 1.59% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.59% in intraday trading to $7.68, hitting a weekly high. The stock’s 5-day price performance is 2.26%, and it has moved by -33.45% in 30 days. Based on these gigs, the overall price performance for the year is 94.43%. The short interest in Tango Therapeutics Inc (NASDAQ:TNGX) is 8.88 million shares and it means that shorts have 13.12 day(s) to cover.

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Tango Therapeutics Inc (TNGX) estimates and forecasts

Statistics show that Tango Therapeutics Inc has underperformed its competitors in share price, compared to the industry in which it operates. Tango Therapeutics Inc (TNGX) shares have gone down -31.73% during the last six months, with a year-to-date growth rate less than the industry average at -18.52% against 13.60. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 3.10% this quarter and then drop -39.10% in the quarter after that. In the rating firms’ projections, revenue will decrease -24.00% compared to the previous financial year.

Revenue for the current quarter is expected to be $6.75 million as predicted by 7 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to $7.13 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $5.77 million and $14.6 million respectively. In this case, analysts expect current quarter sales to grow by 17.10% and then drop by -51.20% in the coming quarter.

While earnings are projected to return -19.44% in 2024.

TNGX Dividends

Tango Therapeutics Inc is due to release its next quarterly earnings between March 25 and March 29. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Tango Therapeutics Inc (NASDAQ:TNGX)’s Major holders

Tango Therapeutics Inc insiders own 13.51% of total outstanding shares while institutional holders control 88.15%, with the float percentage being 101.93%. TRV GP IV, LLC is the largest shareholder of the company, while 171 institutions own stock in it. As of Jun 29, 2023, the company held over 19.36 million shares (or 19.03% of all shares), a total value of $64.29 million in shares.

The next largest institutional holding, with 10.37 million shares, is of FMR, LLC’s that is approximately 10.19% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $34.42 million.

Also, the Mutual Funds coming in first place with the largest holdings of Tango Therapeutics Inc (TNGX) shares are Fidelity Advisor Biotechnology Fund and Vanguard Total Stock Market Index Fund. Data provided on Jul 30, 2023 indicates that Fidelity Advisor Biotechnology Fund owns about 2.4 million shares. This amounts to just over 2.36 percent of the company’s overall shares, with a $8.13 million market value. The same data shows that the other fund manager holds slightly less at 1.7 million, or about 1.67% of the stock, which is worth about $5.65 million.