In the last trading session, 1.11 million shares of the Tango Therapeutics Inc (NASDAQ:TNGX) were traded, and its beta was 0.82. Most recently the company’s share price was $6.00, and it changed around $0.08 or 1.35% from the last close, which brings the market valuation of the company to $642.84M. TNGX currently trades at a discount to its 52-week high of $13.01, offering almost -116.83% off that amount. The share price’s 52-week low was $5.83, which indicates that the current value has risen by an impressive 2.83% since then. We note from Tango Therapeutics Inc’s average daily trading volume that its 10-day average is 1.3 million shares, with the 3-month average coming to 952.35K.
Tango Therapeutics Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.11. If we narrow it down even further, the data shows that 0 out of 9 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 0 recommended TNGX as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. Tango Therapeutics Inc is expected to report earnings per share of -0.37 for the current quarter.
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Tango Therapeutics Inc (NASDAQ:TNGX) trade information
Instantly TNGX has showed a green trend with a performance of 1.35% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 7.14 on recent trading dayincreased the stock’s daily price by 15.97%. The company’s shares are currently down -39.39% year-to-date, but still down -9.64% over the last five days. On the other hand, Tango Therapeutics Inc (NASDAQ:TNGX) is -22.08% down in the 30-day period. We can see from the shorts that 8.9 million shares have been sold at a short interest cover period of 8.71 day(s).
The consensus price target as assigned by Wall Street analysts is $13, which translates to bulls needing to increase their stock price by 53.85% from its current value. Analyst projections state that TNGX is forecast to be at a low of $13 and a high of $18.
Tango Therapeutics Inc (TNGX) estimates and forecasts
Tango Therapeutics Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -22.08 percent over the past six months and at a -17.59% annual growth rate that is well below the industry average of 17.50%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -60.90% in revenue this quarter, and will report a decrease of -18.80% in the next quarter. The year-over-year growth rate is expected to be 15.80%, up from the previous year.
Consensus estimates provided by 10 financial analysts predict the company will bring in an average of 7.81M in revenue for the current quarter. 10 analysts expect Tango Therapeutics Inc to make 8.17M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 10.73M and 5.43M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -27.20%. Forecasts for the next quarter put sales growth at 50.40%.
TNGX Dividends
Tango Therapeutics Inc’s next quarterly earnings report is expected to be released in November.
Tango Therapeutics Inc (NASDAQ:TNGX)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 12.87% of Tango Therapeutics Inc shares, and 88.99% of them are in the hands of institutional investors. The stock currently has a share float of 102.14%. Tango Therapeutics Inc stock is held by 179.0 institutions, with TRV GP IV, LLC being the largest institutional investor. By 2024-06-30, it held 17.751% of the shares, which is about 19.2 million shares worth $164.75 million.
ECOR1 CAPITAL, LLC, with 12.3237% or 13.33 million shares worth $114.38 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
