Why Shares of Tango Therapeutics Are Dropping Monday
Shares of Tango Therapeutics (NASDAQ: TNGX) were down more than 12% as of 11:15 a.m. on Monday. The healthcare stock is up more than 37% this year.
Tango is a clinical-stage biotech that focuses on precision oncology therapies. The stock reached a 52-week high of $13.03 on Thursday, because several companies were pursuing another oncology-focused biotech, Mirati Therapeutics. On Sunday, the chase ended for Mirati after Bristol-Myers Squibb said it was spending $5.8 billion to purchase Mirati.
Tango's slump on Monday had no real company-related news peg, just investors taking profits. At the stock's current price, it is still well over the 20-day moving average of $9.98 and the 50-day moving average of $7.76.
Source Fool.com
Mirati Therapeutics Inc. Stock
€53.84
-0.040%
With 10 Sell predictions and only 2 Buy predictions the community sentiment for Mirati Therapeutics Inc. is rather negative.
However, we have a potential of 44.87% for Mirati Therapeutics Inc. as the target price of 78 € is above the current price of 53.84 €.
