Tango Therapeutics Inc. (NASDAQ:TNGX) saw an upside of 115.14% to $8.24 after adding $4.41 on Wednesday. The 5-day average trading volume is 8,673,656 shares of the company’s common stock. It has gained $9.39 in the past week and touched a new high 5 times within the past 5 days. An average of 2,239,149 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,056,840.
TNGX’s 1-month performance is 140.23% or $4.75 on its low of $2.88 reached on 07/27/23. The company’s shares have touched a 52-week low of $2.47 and high of $8.56, with the stock’s rally to the 52-week high happening on 08/09/23. YTD, TNGX has achieved 13.66% or $0.69 and has reached a new high 6 times. However, the current price is down -3.72% from the 52-week high price.
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Valuation Metrics
TNGX stock has a beta of 1.67. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 29.17 while the price-to-book (PB) in the most recent quarter is 3.19.
Tango Therapeutics Inc.’s quick ratio for the period ended June 29 was 6.40, with the current ratio over the same period at 6.40. The trailing 12-month EBITDA margin is -430.58%. The firm’s gross profit as reported stood at $135.93 million against revenue of $24.86 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Tango Therapeutics Inc.’s cash and short-term investments amounted to $244.6 million against total debt of $41.37 million. Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -20.04% to -$20.71 million, while revenue of -$28.01 million was -35.25% off the previous quarter. Analysts expected TNGX to announce -$0.34 per share in earnings in its latest quarter, but it posted -$0.23, representing a 32.40% surprise. EBITDA for the quarter stood at more than -$24.41 million. TNGX stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 166.38 million, with total debt at $41.37 million. Shareholders hold equity totaling $88.47 million.
Let’s look briefly at Tango Therapeutics Inc. (TNGX) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 August was 93.94% to suggest the stock is trending Overbought, with historical volatility in this time period at 343.59%.
The stock’s 5-day moving average is $4.40, reflecting a +149.69% or $4.76 change from its current price. TNGX is currently trading +124.29% above its 20-day SMA, +80.87% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +165.55% and SMA200 by+16.94%.
Stochastic %K and %D was 79.66% and 75.84% and the average true range (ATR) pointed at 0.87. The RSI (14) points at 89.38%, while the 14-day stochastic is at 77.73% with the period’s ATR at 0.66. The stock’s 9-day MACD Oscillator is pointing at 1.20 and 1.48 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Tango Therapeutics Inc. (NASDAQ: TNGX), H.C. Wainwright upgraded it to a Buy rating. They previously had a Neutral rating on the stock.
