Tango Therapeutics Inc (NASDAQ: TNGX) stock jumped 1.20% on Friday to $7.60 against a previous-day closing price of $7.51. With 0.55 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.22 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $7.63 whereas the lowest price it dropped to was $7.37. The 52-week range on TNGX shows that it touched its highest point at $13.03 and its lowest point at $2.47 during that stretch. It currently has a 1-year price target of $17.60. Beta for the stock currently stands at 0.89.
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 -9.09%, but this was up by 1.20% over a month. Three-month performance surged to 6.15% while six-month performance rose 104.30%. The stock lost -1.68% in the past year, while it has gained 4.83% so far this year. A look at the trailing 12-month EPS for TNGX yields -1.11 with Next year EPS estimates of -1.31. For the next quarter, that number is -0.26. This implies an EPS growth rate of 14.80% for this year and -25.00% for next year.
Float and Shares Shorts:
At present, 88.18 million TNGX shares are outstanding with a float of 50.80 million shares on hand for trading. On Oct 30, 2023, short shares totaled 8.44 million, which was 8.29% higher than short shares on Sep 28, 2023. In addition to Dr. Barbara L. Weber M.D. as the firm’s President, CEO & Director, Ms. Daniella Beckman CPA serves as its Chief Financial Officer.
Through their ownership of 79.50% of TNGX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 41.83% of TNGX, in contrast to 39.70% held by mutual funds. Shares owned by individuals account for 16.49%. As the largest shareholder in TNGX with 13.10% of the stake, EcoR1 Capital, LLC holds 13,330,736 shares worth 13,330,736. A second-largest stockholder of TNGX, Fidelity Management & Research Co, holds 11,644,773 shares, controlling over 11.45% of the firm’s shares. Southpoint Capital Advisors LP is the third largest shareholder in TNGX, holding 5,276,699 shares or 5.19% stake. With a 2.15% stake in TNGX, the Fidelity Series Small Cap Opportu is the largest stakeholder. A total of 2,192,630 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 1.67% of TNGX stock, is the second-largest Mutual Fund holder. It holds 1,700,696 shares valued at 14.29 million. Fidelity Small Cap Growth Fund holds 1.24% of the stake in TNGX, owning 1,263,679 shares worth 10.61 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TNGX since 0 analysts follow the stock currently. 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 $20.00 and a low target of $16.00, the average target price over the next 12 months is $17.60. Based on these targets, TNGX could surge 163.16% to reach the target high and rise by 110.53% to reach the target low. Reaching the average price target will result in a growth of 131.58% from current levels.
Summary of Insider Activity:
Insiders traded TNGX stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 10,000 shares were bought while 7,507 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 774,232 while 7,507 shares were sold.