Chart Of The Day: Tango Therapeutics - What Happens When The FDA Gives A Thumbs UP!

The Chart of the Day belongs to the cancer biotechnology company Tango Therapeutics (TNGX). I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart  feature to review the charts for consistent price appreciation.  Since the Trend Seeker signaled a buy on 8/9 the stock gained 53.78%.

(Click on image to enlarge)

 

TNGX Price vs Daily Moving Averages

Tango Therapeutics, Inc., a biotechnology company, discovers and develops drugs for the treatment of cancer. Its lead program is TNG908, a synthetic lethal small molecule inhibitor of protein arginine methyltransferase 5 that is being developed as a treatment for cancers with methylthioadenosine phosphorylase deletions. The company also develops TNG462, an oral small molecule methylthioadenosine-cooperative inhibitor for the treatment for cancers with methylthioadenosine phosphorylase deletions; TNG260, a co-repressor of repressor element-1 silencing transcription -selective inhibitor; TNG348, an ubiquitin-specific protease 1 inhibitor to treat patients with BRCA1 or BRCA2-mutant cancers; and Target 3 for STK11-mutant cancers. Tango Therapeutics, Inc. has a strategic collaboration with Gilead Sciences, Inc. for the discovery, development, and commercialization of a pipeline of therapies for patients with cancer. The company was founded in 2017 and is headquartered in Boston, Massachusetts.

Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.

Barchart Technical Indicators:

  • 100% technical buy signals
  • Gained 201.76% in the last year
  • Trend Seeker buy signal
  • Above its 20, 50 and 100 day moving averages
  • 14 new highs and up 71.33% in the last month
  • Relative Strength Index 74.03%
  • Technical support level at $10.38
  • Recently traded at $12.08 with 50 day moving average of $7.45

 

Fundamental Factors:

  • Market Cap $934 million
  • Since the company is still in the drug trial stages Revenue and Earnings projections are not dependable

Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:

  • Wall Street analyst gave 3 strong buy, and 3 buy opinions on the stock
  • Analysts' price targets are  between $16 and $20 with a consensus of $17.60 for a 46.54% gain
  • Only 618 investors monitor the stock on Seeking Alpha


On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.


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