Is TNGX or TRAX more undervalued in 2026?

CirclFi compares Tango Therapeutics, Inc. (TNGX) and First Tracks Biotherapeutics, I (TRAX) using 13 institutional-grade valuation models. TNGX has a Quality of Company score of 7.0/10 while TRAX scores 1.7/10.

Which is a better buy — TNGX or TRAX?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do TNGX and TRAX valuations compare?

TNGX at $21.98 and TRAX at $15.96 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

TNGX vs TRAX Valuation Comparison 2026 — Intrinsic Value Analysis

TNGX

Pharmaceutical Preparations

Tango Therapeutics, Inc.

Quality

7.0

out of 10

Value Trap

SAFE

Price

$21.98

Last close

Models

12/13

Active

TRAX

Pharmaceutical Preparations

First Tracks Biotherapeutics, I

Quality

1.7

out of 10

Value Trap

—

Price

$15.96

Last close

Models

7/13

Active

Model-by-Model Comparison

Model	Type	TNGX Fair Value	TNGX Upside	TRAX Fair Value	TRAX Upside
Bayesian DCF	Intrinsic	$4.82	-78.1%	$4.26	-73.3%
Earnings Power Value	Intrinsic	$0.90	-95.7%	—	—
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$20.26	-7.8%	$7.49	-53.0%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%

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TNGX vs TRAX — Which Stock Is More Undervalued?

TNGX scores higher with a 7.0/10 quality rating vs TRAX's 1.7/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Tango Therapeutics, Inc. (TNGX) and First Tracks Biotherapeutics, I (TRAX) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

TNGX currently trades at $21.98 with a QOC of 7.0/10, while TRAX trades at $15.96 with a QOC of 1.7/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).