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Tango Therapeutics (TNGX) Surges 6.7%: Is This an Indication of Further Gains?
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Tango Therapeutics, Inc. (TNGX - Free Report) shares soared 6.7% in the last trading session to close at $9.89. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 8.2% loss over the past four weeks.
The stock rallied as optimism grew over the company’s promising set of pipeline candidates, which are being developed as the next generation of precision medicines for the treatment of cancer. Several clinical milestones are expected later in 2024.
This company is expected to post quarterly loss of $0.34 per share in its upcoming report, which represents a year-over-year change of -47.8%. Revenues are expected to be $7.39 million, down 49.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Tango Therapeutics, the consensus EPS estimate for the quarter has been revised 4.8% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on TNGX going forward to see if this recent jump can turn into more strength down the road.
Tango Therapeutics is part of the Zacks Medical - Biomedical and Genetics industry. Repare Therapeutics Inc. (RPTX - Free Report) , another stock in the same industry, closed the last trading session 0.3% lower at $3.89. RPTX has returned 10.5% in the past month.
For Repare Therapeutics, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.85. This represents a change of -203.6% from what the company reported a year ago. Repare Therapeutics currently has a Zacks Rank of #1 (Strong Buy).
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Tango Therapeutics (TNGX) Surges 6.7%: Is This an Indication of Further Gains?
Tango Therapeutics, Inc. (TNGX - Free Report) shares soared 6.7% in the last trading session to close at $9.89. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 8.2% loss over the past four weeks.
The stock rallied as optimism grew over the company’s promising set of pipeline candidates, which are being developed as the next generation of precision medicines for the treatment of cancer. Several clinical milestones are expected later in 2024.
This company is expected to post quarterly loss of $0.34 per share in its upcoming report, which represents a year-over-year change of -47.8%. Revenues are expected to be $7.39 million, down 49.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Tango Therapeutics, the consensus EPS estimate for the quarter has been revised 4.8% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on TNGX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Tango Therapeutics is part of the Zacks Medical - Biomedical and Genetics industry. Repare Therapeutics Inc. (RPTX - Free Report) , another stock in the same industry, closed the last trading session 0.3% lower at $3.89. RPTX has returned 10.5% in the past month.
For Repare Therapeutics, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.85. This represents a change of -203.6% from what the company reported a year ago. Repare Therapeutics currently has a Zacks Rank of #1 (Strong Buy).