Tango Therapeutics Inc. (NASDAQ: TNGX) stock fell -3.23% on Wednesday to $7.50 against a previous-day closing price of $7.75. With 0.15 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.21 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $7.78 whereas the lowest price it dropped to was $7.37. The 52-week range on TNGX shows that it touched its highest point at $11.73 and its lowest point at $3.18 during that stretch. It currently has a 1-year price target of $14.67.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TNGX was down-trending over the past week, with a drop of -2.98%, but this was up by 1.49% over a month. Three-month performance surged to 66.30% while six-month performance rose 33.45%. The stock lost -22.60% in the past year, while it has lost -31.44% so far this year. A look at the trailing 12-month EPS for TNGX yields -1.15 with Next year EPS estimates of -1.60. For the next quarter, that number is -0.35. This implies an EPS growth rate of -33.00% for this year and -27.20% for next year.
Float and Shares Shorts:
At present, 87.89 million TNGX shares are outstanding with a float of 74.77 million shares on hand for trading. On Oct 13, 2022, short shares totaled 1.1 million, which was 1.25% higher than short shares on Sep 14, 2022. In addition to Dr. Barbara L. Weber M.D. as the firm’s Pres, CEO & Director, Ms. Daniella Beckman CPA serves as its Chief Financial Officer.
Through their ownership of 80.49% of TNGX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 9.90% of TNGX, in contrast to 31.09% held by mutual funds. Shares owned by individuals account for 13.73%. As the largest shareholder in TNGX with 7.99% of the stake, Fidelity Management & Research Co holds 7,037,590 shares worth 7,037,590. A second-largest stockholder of TNGX, Southpoint Capital Advisors LP, holds 4,500,000 shares, controlling over 5.11% of the firm’s shares. Ecor1 Capital LLC is the third largest shareholder in TNGX, holding 4,201,414 shares or 4.77% stake. With a 1.93% stake in TNGX, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,700,696 shares are owned by the mutual fund manager. The Fidelity Advisor Series VII – Bio, which owns about 1.82% of TNGX stock, is the second-largest Mutual Fund holder. It holds 1,603,500 shares valued at 12.89 million. Fidelity Series Small Cap Opportu holds 1.59% of the stake in TNGX, owning 1,398,900 shares worth 11.25 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TNGX since 6 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With TNGX analysts setting a high price target of $21.00 and a low target of $10.00, the average target price over the next 12 months is $14.67. Based on these targets, TNGX could surge 180.0% to reach the target high and rise by 33.33% to reach the target low. Reaching the average price target will result in a growth of 95.6% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. TNGX will report FY 2022 earnings on 03/27/2023. Analysts have provided yearly estimates in a range of -$1.25 being high and -$1.27 being low. For TNGX, this leads to a yearly average estimate of -$1.26. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Tango Therapeutics Inc. surprised analysts by -$0.01 when it reported -$0.33 EPS against a consensus estimate of -$0.32. The surprise factor in the prior quarter was $0.04. Based on analyst estimates, the high estimate for the next quarter is -$0.34 and the low estimate is -$0.37. The average estimate for the next quarter is thus -$0.35.