Tango Therapeutics Inc (NASDAQ:TNGX) price on Wednesday, December 04, fall -4.61% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $3.52.
A look at the stock’s price movement, the close in the last trading session was $3.69, moving within a range at $3.4909 and $3.73. The beta value (5-Year monthly) was 0.879. Turning to its 52-week performance, $13.01 and $2.70 were the 52-week high and 52-week low respectively. Overall, TNGX moved -31.78% over the past month.
Tango Therapeutics Inc’s market cap currently stands at around $378.11 million, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 8.02M for the company’s revenue for the quarter, with a low and high estimate of 5M and 15.6M respectively. The average forecast suggests up to a 47.64% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 45.99M, representing a 25.91% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that TNGX is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
3 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 3 recommend TNGX as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
TNGX’s current price about -3.46% and -35.14% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 36.01, while 7-day volatility ratio is 7.66% and 13.68% in the 30-day chart. Further, Tango Therapeutics Inc (TNGX) has a beta value of 0.75, and an average true range (ATR) of 0.44. Analysts have given the company’s stock an average 52-week price target of $15.5, forecast between a low of $13 and high of $18. Looking at the price targets, the low is -269.32% off current price level while to achieve the yearly target high, price needs to move -411.36%. Nonetheless, investors will most likely welcome a -340.34% jump to $15.5 which is the analysts’ median price.
If we refocus on Tango Therapeutics Inc (NASDAQ:TNGX), historical trading data shows that trading volumes averaged 1.45 over the past 10 days and 1.88 million over the past 3 months. The company’s latest data on shares outstanding shows there are 107.41 million shares.
The 54.04% of Tango Therapeutics Inc’s shares are in the hands of company insiders while institutional holders own 56.79% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 7.11 million on 2024-11-15, giving us a short ratio of 2.43. The data shows that as of 2024-11-15 short interest in Tango Therapeutics Inc (TNGX) stood at 1218.9999 of shares outstanding, with shares short falling to 8.9 million registered in 2024-10-15. Current price change has pushed the stock -64.44% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the TNGX stock continues to rise going into the next quarter.
