# Tango Therapeutics, Inc. (TNGX)

> Source: Nexqual · https://nexqual.com/TNGX · data as of 2026-10-28 20:00 UTC · cite as "Nexqual, Tango Therapeutics, Inc. (TNGX), nexqual.com/TNGX" · informational, not investment advice.

**Price:** USD 22.23 (-2.88% on the day) · last close of Oct 28, 2026; US market pre market, not a live price. Prev close 22.89 · day 22.14–23.71 · 52w 7.37–34.39 · market cap $3.75B · NGM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $53.8M, net income -$124M (-229.9% margin), free cash flow -$144M (SEC filings).
- Insider open-market sales, last ~7 months: 8 Form 4 filings, $5.1M; 0 not under a Rule 10b5-1 plan ($0K); 7 by opportunistic insiders (0 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (13 analysts), mean target USD 47.09 (range 24–69).
- Next earnings: 2026-11-04, EPS estimate USD -0.35, revenue estimate $0K.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $37.0M | $24.9M | $36.5M | $42.1M | $62.4M | $53.8M |
| Operating income | -$58.2M | -$111M | -$114M | -$146M | -$111M | -$136M |
| Net income | -$58.2M | -$108M | -$102M | -$130M | -$102M | -$124M |
| EPS (diluted) | -$0.94 | -$1.23 | -$1.08 | -$1.19 | -$0.87 | — |
| Free cash flow | -$61.4M | -$117M | -$120M | -$132M | -$140M | -$144M |
| Operating margin | -157.1% | -446.8% | -312.6% | -346.1% | -178.4% | -253.4% |
| Net margin | -157.2% | -435.1% | -278.5% | -309.7% | -162.9% | -229.9% |
| Revenue growth | +383.8% | -32.9% | +46.9% | +15.2% | +48.3% | — |
| Cash + short-term investments | $485M | $366M | $337M | $258M | $343M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 69.7x · P/B 3.7x · FCF yield -3.85% · Earnings yield -3.30%

## Insider sales (SEC Form 4, open-market, last ~7 months)
8 of 8 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-01 | Crystal Adam | President, R&D | 27,000 | $661K | 18.9% | Yes (adopted October 27, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-09-22 | Newcomb Jessica | Principal Accounting Officer | 8,200 | $199K | 12.2% | Yes (adopted June 23, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-09-01 | Crystal Adam | President, R&D | 27,000 | $604K | 18.9% | Yes (adopted October 27, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-08-03 | Crystal Adam | President, R&D | 27,000 | $736K | 18.9% | Yes (adopted October 27, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-07-01 | Crystal Adam | President, R&D | 27,000 | $799K | 18.9% | Yes (adopted October 27, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-01 | Crystal Adam | President, R&D | 27,000 | $618K | 18.9% | Yes (adopted October 27, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-01 | Crystal Adam | President, R&D | 27,000 | $573K | 18.9% | Yes (adopted October 27, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-04-15 | Crystal Adam | President, R&D | 38,460 | $962K | 25.5% | Yes (adopted October 27, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 13 analysts; mean target USD 47.09 (low 24, high 69).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-16 | William Blair | Initiated | Outperform |  |
| 2026-08-18 | HC Wainwright & Co. | Target raised | Buy | $66 → $68 |
| 2026-08-12 | Guggenheim | Target raised | Buy | $32 → $35 |
| 2026-07-17 | Mizuho | Target raised | Outperform | $36 → $40 |
| 2026-07-15 | JP Morgan | Initiated | Overweight | $46 |

## Peers (Biotechnology)
RYTM (Rhythm Pharmaceuticals, Inc.) USD 91.97 -0.23% · ORKA (Oruka Therapeutics, Inc.) USD 95.97 +0.17% · IOVA (Iovance Biotherapeutics, Inc.) USD 14.81 +1.58% · IONS (Ionis Pharmaceuticals, Inc.) USD 44.9 +2.14% · AXSM (Axsome Therapeutics, Inc.) USD 143.51 +0.92% · PRAX (Praxis Precision Medicines, Inc) USD 285.48 +6.69%

## More
Full page: https://nexqual.com/TNGX · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.35 | $-0.33 | −$0.02 | $0 | 12 |
| Next quarter (ends 2026-12-31) | $-0.38 | $-0.34 | −$0.03 | $0 | 12 |
| Current fiscal year (ends 2026-12-31) | $-1.40 | $-1.29 | −$0.10 | $0 | 12 |
| Next fiscal year (ends 2027-12-31) | $-1.69 | $-1.52 | −$0.17 | $2.6M | 11 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | −$0.37 | −$0.32 | Miss −15.6% | — |
| — | Quarter ended Mar 31, 2026 | −$0.32 | −$0.31 | Miss −3.2% | — |
| — | Quarter ended Dec 31, 2025 | −$0.29 | −$0.33 | Beat +12.1% | — |
| — | Quarter ended Sep 30, 2025 | $0.13 | −$0.07 | Beat +$0.20 | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-23 | 8-K | Regulation FD disclosure; Other material event — “Promising Results from Phase 1/2 Clinical Trial of Vopimetostat in Combination with RAS(ON) Inhibitors On October 23, 2026, the Company disclosed promising results from its ongoing Phase 1/2 trial evaluating vopimetostat in combination with RAS(ON) inhibitors from Revolution Medicines, Inc. in patients with MTAP-deleted and RAS-mutant metastatic pancreatic ductal adenocarcinoma ("PDAC") and non-small cell lung cancer ("NSCLC"). As of the data cutoff date of August 20, 2026, updated data from the ongoing Phase 1/2…” | https://www.sec.gov/Archives/edgar/data/1819133/000119312526429423/0001193125-26-429423-index.htm |
| 2026-08-14 | Schedule 13G/A | Nextech Crossover I GP S.a. r.l., Nextech Crossover I SCSp: 0.0% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1819133/000191676126000008/0001916761-26-000008-index.htm |
| 2026-08-14 | Schedule 13G/A | TCG Crossover GP II, LLC, TCG Crossover Fund II, L.P.: 7.0% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1819133/000119312526352271/0001193125-26-352271-index.htm |
| 2026-08-14 | Schedule 13G | THE GOLDMAN SACHS GROUP, INC., GOLDMAN SACHS & CO. LLC: 6.0% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/1819133/000088698226000510/0000886982-26-000510-index.htm |
| 2026-08-14 | Schedule 13G/A | Woodline Partners LP: 2.5% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1819133/000091957426005265/0000919574-26-005265-index.htm |
| 2026-08-14 | Schedule 13G/A | Farallon Capital Management, L.L.C., Farallon Capital Partners, L.P.: 9.8% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1819133/000090883426000425/0000908834-26-000425-index.htm |
| 2026-08-12 | Schedule 13G/A | Adage Capital Management, L.P., Robert Atchinson: 3.4% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1819133/000091957426004954/0000919574-26-004954-index.htm |
| 2026-08-11 | 8-K | Other material event — “As previously disclosed, on November 21, 2025, Tango Therapeutics, Inc. (the "Company") entered into a Sales Agreement (the "Sales Agreement") with Leerink Partners LLC (the "Sales Agent"), with respect to an at-the-market offering program pursuant to which the Company may offer and sell, from time to time at its sole discretion, shares of its common stock, par value $0.001 per share (the "Common Stock"), through the Sales Agent. The Company previously filed a registration statement on Form S-3ASR (File No.…” | https://www.sec.gov/Archives/edgar/data/1819133/000119312526344997/0001193125-26-344997-index.htm |
| 2026-08-11 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/1819133/000119312526343434/0001193125-26-343434-index.htm |
| 2026-08-11 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1819133/000119312526343424/0001193125-26-343424-index.htm |
| 2026-08-07 | 8-K/A | Director or executive officer change, or pay arrangement; Regulation FD disclosure | https://www.sec.gov/Archives/edgar/data/1819133/000119312526339070/0001193125-26-339070-index.htm |
| 2026-08-06 | 8-K | Director or executive officer change, or pay arrangement | https://www.sec.gov/Archives/edgar/data/1819133/000119312526338480/0001193125-26-338480-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.