As of Thursday close, Tango Therapeutics Inc.’s (NASDAQ:TNGX) stock was up $0.58, moving up 6.75 percent to $9.17. The average number of shares traded per day over the past five days has been 1,053,920 shares. 4 times new highs have been achieved over the past 5 days, with a $0.93 gain in that time frame. In the last twenty days, the average volume was 706,510, while in the previous 50 days, it was 2,212,880.
Since last month, TNGX stock rose 25.79%. Shares of the company fell to $6.43 on 09/01/23, the lowest level in the past month. A 52-week high of $9.39 was reached on 08/09/23 after having rallying from a 52-week low of $2.47. Since the beginning of this year, TNGX’s stock price has risen by 26.48% or $1.92, and marked a new high 6 times. However, the stock has declined by -2.34% since its 52-week high.
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Sponsored
TNGX stock investors should be aware that Tango Therapeutics Inc. (TNGX) stock had its last reported insider trading activity 42 days ago on Aug 11. Boxer Capital, LLC, the of the company, purchased of 475,000 shares for $5.15 on Aug 11. It resulted in a $2,446,250 investment by the insider. Boxer Capital, LLC added 70,000 shares at an average price of $4.65 on Oct 13. The insider now owns 7,123,642 shares following the transaction. On Oct 12, 10% Owner Boxer Capital, LLC bought 50,000 shares at $4.43 apiece. The transaction was valued at $221,640.
Valuation Metrics
The stock’s beta is 1.31. Besides these, the trailing price-to-sales (P/S) ratio of 26.79, the price-to-book (PB) ratio of 3.80.
Financial Health
In the three months ended June 29, Tango Therapeutics Inc.’s quick ratio stood at 6.00, while its current ratio was 6.00, showing that the company is able to pay off its debt. Based on annual data, TNGX earned $135.93 million in gross profit and brought in $24.86 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -44.50%. Return on equity (ROE) for the past 12 months was -44.40%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. TNGX’s revenue rose 60.48% to $5.77 million during the quarter, while net income inched up to $14.6 million. While analysts expected Tango Therapeutics Inc. to report -$0.34 quarterly earnings, the actual figure was -$0.23 per share, beating the consensus estimate by 32.40%. During the quarter, the company generated -$24.41 million in EBITDA. The liabilities of Tango Therapeutics Inc. were 166.38 million at the end of its most recent quarter ended June 29, and its total debt was $39.89 million. The value of shareholders’ equity is $88.47 million.
Technical Picture
This quick technical analysis looks at Tango Therapeutics Inc.’s (TNGX) price momentum. With a historical volatility rate of 87.60%, the RSI 9-day stood at 71.82% on 21 September.
With respect to its five-day moving average, the current Tango Therapeutics Inc. price is up by +11.29% percent or $0.93. At present, TNGX shares trade +24.25% above its 20-day simple moving average and +169.71% percent above its 100-day simple moving average. However, the stock is currently trading approximately +159.04% above its SMA50 and +15.49% above its SMA200.
Stochastic coefficient K was 86.07% and Stochastic coefficient D was 87.61%, while ATR was 0.64. Given the Stochastic reading of 99.64% for the 14-day period, the RSI (14) reading has been calculated as 69.84%. As of today, the MACD Oscillator reading stands at 0.27, while the 14-day reading stands at 0.74.
Analyst Ratings
H.C. Wainwright upgraded its rating on Tango Therapeutics Inc. (NASDAQ: TNGX) to a Buy in a note to investors on October 20, 2022. The analysts firm previously had a Neutral rating on the stock.Tango Therapeutics Inc. (TNGX) has been rated Buy by analysts. According to 0 brokerage firms, TNGX is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Tango Therapeutics Inc. stock as buy, with 4 recommending it as overweight.
With a median target price of $18.00, the current consensus forecast for the stock is $16.00 – $20.00. Based on these forecasts, analysts predict Tango Therapeutics Inc. (TNGX) will achieve an average price target of $17.60.
