Why Is Tango Therapeutics (TNGX) Down 6.2% Since Last Earnings Report?

Tango Therapeutics (TNGX) stock has declined 6.2% since its Q2 2026 earnings report, underperforming the S&P 500. The company reported a wider-than-expected loss of 37 cents per share due to higher operating expenses, with R&D expenses up 13% and G&A expenses nearly doubling. Collaboration revenues dropped to zero from $3.2 million year-over-year following the conclusion of its Gilead partnership. Analyst estimates have shifted downward by 10.16% in the past month, and the stock carries a Zacks Rank #3 (Hold) with poor VGM scores across growth, momentum, and value metrics.