Tango Therapeutics, Inc. (NASDAQ:TNGX) stock is up during Monday’s premarket session as the company announced positive initial data from its ongoing Phase 1/2 trial involving vopimetostat and daraxonrasib.
The results indicate a 90% progression-free survival rate at six months for patients with metastatic pancreatic ductal adenocarcinoma (PDAC).
Tango Therapeutics Phase 1/2 Data Drives TNGX Premarket Move
The initial data from the trial showed that 92% of patients treated with the vopimetostat and daraxonrasib combination achieved an objective response, with the company planning to advance this combination into Phase 3 development for first-line treatment of MTAP-deleted pancreatic cancer.
The news comes as the company aims to provide a chemotherapy-free option for patients, which could significantly reshape treatment protocols for this aggressive disease.
The data showed a 6-month progression-free survival of 90%, with a 100% disease control rate.
For the opimetostat plus zoldonrasib combination, the biotechnology company reported an objective response rate of 52%, 6-month progression-free survival of 74%, and 96% disease control rate.
TNGX Technical Outlook: Bullish Trend With Momentum Cooling
Tango Therapeutics has demonstrated remarkable performance over the past year, with a 12-month gain of 386.06%. However, the stock is currently trading 60.9% above its 20-day simple moving average of $21.75, indicating a strong bullish trend.
The MACD is below its signal line, suggesting that upside momentum may be fading unless it can reclaim that baseline.
Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price forecast of $31.78. Recent analyst moves include:
- Piper Sandler: Downgraded to Neutral (Raises forecast to $24.00) (May 15)
- Mizuho: Outperform (Raises forecast to $30.00) (May 15)
- Jefferies: Downgraded to Hold (Raises forecast to $27.00) (May 14)
How TNGX Ranks On Momentum Versus The Market
Below is the Benzinga Edge scorecard for Tango Therapeutics, highlighting its strengths and weaknesses compared to the broader market:
- Momentum: Bullish (Score: 98.41) — Stock is outperforming the broader market.
The Verdict: Tango Therapeutics’ Benzinga Edge signal reveals a momentum-driven story, indicating strong performance relative to the market.
TNGX Stock Price Activity: Tango Therapeutics shares were up 48.37% at $30 during premarket trading on Monday, according to Benzinga Pro data.
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