Tempest Therapeutics, Inc. (NASDAQ:TPST) Short Interest Update

Tempest Therapeutics, Inc. (NASDAQ:TPST) saw a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 2,490,000 shares, a growth of 18.6% from the November 15th total of 2,100,000 shares. Approximately 6.7% of the company’s shares are short sold. Based on an average daily trading volume, of 3,360,000 shares, the days-to-cover ratio is presently 0.7 days.

Analyst Upgrades and Downgrades

TPST has been the subject of a number of analyst reports. HC Wainwright restated a “buy” rating and set a $47.00 price objective on shares of Tempest Therapeutics in a report on Wednesday, November 13th. Piper Sandler reduced their target price on Tempest Therapeutics from $8.00 to $5.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Finally, William Blair reissued an “outperform” rating on shares of Tempest Therapeutics in a research note on Wednesday, November 13th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $20.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TPST. Geode Capital Management LLC lifted its stake in Tempest Therapeutics by 42.7% in the 3rd quarter. Geode Capital Management LLC now owns 220,067 shares of the company’s stock valued at $308,000 after acquiring an additional 65,826 shares in the last quarter. Fullcircle Wealth LLC bought a new position in shares of Tempest Therapeutics during the 3rd quarter worth approximately $87,000. Empower Advisory Group LLC acquired a new stake in shares of Tempest Therapeutics in the third quarter valued at approximately $49,000. Dimensional Fund Advisors LP acquired a new stake in shares of Tempest Therapeutics in the second quarter valued at approximately $55,000. Finally, XTX Topco Ltd bought a new stake in shares of Tempest Therapeutics in the third quarter worth $34,000. 22.52% of the stock is currently owned by institutional investors.

Tempest Therapeutics Price Performance

Shares of Tempest Therapeutics stock traded down $0.03 on Friday, hitting $0.80. The company had a trading volume of 1,933,376 shares, compared to its average volume of 2,054,935. The stock has a 50-day moving average of $1.02 and a 200-day moving average of $1.60. Tempest Therapeutics has a twelve month low of $0.79 and a twelve month high of $6.00. The firm has a market capitalization of $34.91 million, a P/E ratio of -0.52 and a beta of -1.78.

Tempest Therapeutics (NASDAQ:TPST) last announced its earnings results on Tuesday, November 12th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.04). Equities analysts predict that Tempest Therapeutics will post -1.39 EPS for the current year.

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.