Tempest Therapeutics (NASDAQ:TPST) Price Target Lowered to $5.00 at Piper Sandler

Tempest Therapeutics (NASDAQ:TPST) had its target price decreased by Piper Sandler from $8.00 to $5.00 in a research report released on Wednesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other equities research analysts have also issued research reports about the company. HC Wainwright restated a “buy” rating and set a $47.00 price objective on shares of Tempest Therapeutics in a research report on Wednesday. William Blair restated an “outperform” rating on shares of Tempest Therapeutics in a research report on Wednesday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tempest Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $20.00.

Tempest Therapeutics Stock Down 8.3 %

TPST stock opened at $0.89 on Wednesday. The business has a 50-day simple moving average of $1.19 and a 200 day simple moving average of $1.93. Tempest Therapeutics has a 52 week low of $0.83 and a 52 week high of $6.00.

Tempest Therapeutics (NASDAQ:TPST) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.04). As a group, research analysts forecast that Tempest Therapeutics will post -1.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Tempest Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. XTX Topco Ltd bought a new stake in Tempest Therapeutics in the third quarter worth approximately $34,000. Empower Advisory Group LLC bought a new position in shares of Tempest Therapeutics during the 3rd quarter worth about $49,000. Dimensional Fund Advisors LP acquired a new stake in shares of Tempest Therapeutics in the 2nd quarter valued at about $55,000. Fullcircle Wealth LLC bought a new position in Tempest Therapeutics in the third quarter worth approximately $87,000. Finally, Virtu Financial LLC lifted its holdings in shares of Tempest Therapeutics by 69.2% in the 1st quarter. Virtu Financial LLC now owns 28,574 shares of the company’s stock worth $112,000 after purchasing an additional 11,689 shares in the last quarter. Institutional investors and hedge funds own 22.52% of the company’s stock.

Tempest Therapeutics Company Profile

Tempest Therapeutics, Inc, a clinical-stage oncology company, develops small molecule therapeutics that combine both tumor-targeted and immune-mediated mechanisms to treat various tumors. The company's two clinical programs are TPST-1495, a dual antagonist of EP2 and EP4, receptors of prostaglandin E2, which is in a Phase 1 trial to treat cancer; and TPST-1120, a selective antagonist of peroxisome proliferator-activated receptor alpha that is in a Phase 1 trial for the treatment of solid tumors.