The stock of Tango Therapeutics Inc. (NASDAQ:TNGX) decreased by -$0.52 on Friday to finish at $6.99, down -6.99 percent. The last five days have seen an average of 18,144,238 shares of common stock traded. 6 times new highs were reached in the current year, with a gain of $0.04. The average number of shares traded over the last 20 days was 4,612,135, while the average volume over the last 50 days totaled 1,979,040.
TNGX stock appreciated 103.64% since last month. On 07/27/23, the company’s shares reached a one-month low of $2.88. The stock touched a high of $9.39 on 08/09/23, after rallying from a low of $2.47 in 52 weeks. The price of TNGX stock has declined by -3.66% or $0.04 this year, reaching a new high 6 times. Still, the stock price is down -25.61% from the 52-week high.
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Insider Transactions
TNGX stock investors should be aware that Tango Therapeutics Inc. (TNGX) stock had its last reported insider trading activity 305 days ago on Oct 13. On Oct 13, 10% Owner Boxer Capital, LLC acquired 70,000 shares at $4.65 each. This transaction resulted in the insider spending $325,227. On Oct 12, Boxer Capital, LLC added 50,000 shares at a price of US$4.43. After the transaction, the insider now owns 268,524 shares. 10% Owner Boxer Capital, LLC had earlier bought 117,000 shares on Oct 11 for $4.25 a share. The transaction was completed for $497,706.
Valuation Metrics
Beta for the stock is 1.21. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 15.97, the price-to-book (PB) ratio of 2.90.
Financial Health
For the three months ended June 29, Tango Therapeutics Inc.’s quick ratio was 6.00, while its current ratio was 6.00, indicating its ability to pay off its debt. Based on annual data, it had gross profit of $135.93 million and revenue of $24.86 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. TNGX’s return on assets (ROA) during the last 12 months has been -25.40%. There was a -44.50% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -44.40%.
Earnings Surprise
According to Tango Therapeutics Inc.’s quarterly financial report for the quarter that ended June 29, it had $244.6 million in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $14.6 million, while revenues rose by 60.48% to $5.77 million. It was predicted that Tango Therapeutics Inc.’s quarterly earnings would be -$0.23, but it ended up being -$0.34, beating the consensus by 32.40%. EBITDA was -$24.41 million for the quarter. At the end of Tango Therapeutics Inc.’s most recent quarter ended June 29, its liabilities totaled 166.38 million, while its total debt was $39.89 million. Equity owned by shareholders amounts to $88.47 million.
Technical Picture
Here’s a quick look at Tango Therapeutics Inc.’s (TNGX) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 74.48%, suggesting the stock is Overbought, with a 368.33% historical volatility rate.
The stochastic %K and %D were 65.03% and 68.41% respectively, while the average true range (ATR) was 1.08. Based on the 14-day stochastic reading of 67.74%, the RSI (14) reading is 73.31%. On the 9-day MACD Oscillator, the stock is at 1.96, and the 14-day reading is at 2.69.
Analyst Ratings
In its most recent analyst report, H.C. Wainwright raised its rating on Tango Therapeutics Inc. (NASDAQ: TNGX) to a Buy. Prior to this, analysts firm rated the stock as a Neutral. Analysts have assigned Tango Therapeutics Inc. (TNGX) an Buy rating. TNGX is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 5 others recommend it as a buy.
What is TNGX’s price target for the next 12 months?
The current consensus forecast for the stock is between $13.00 and $20.00, with a median target price of $17.00. In analyzing these forecasts, the average price target given by analysts for Tango Therapeutics Inc. (TNGX) is $16.83.
