Tempest Therapeutics (NASDAQ:TPST) Given New $7.00 Price Target at Scotiabank

Tempest Therapeutics (NASDAQ:TPST) had its price target lowered by equities researchers at Scotiabank from $13.00 to $7.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock.

Separately, HC Wainwright cut their target price on Tempest Therapeutics from $47.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday.

Tempest Therapeutics Stock Down 5.0 %

TPST stock traded down $0.04 during midday trading on Friday, hitting $0.80. The company’s stock had a trading volume of 242,256 shares, compared to its average volume of 2,092,047. Tempest Therapeutics has a 12 month low of $0.70 and a 12 month high of $6.00. The company has a 50 day moving average of $0.87 and a two-hundred day moving average of $0.98. The firm has a market capitalization of $34.83 million, a price-to-earnings ratio of -0.52 and a beta of -1.83.

Institutional Trading of Tempest Therapeutics

Institutional investors have recently made changes to their positions in the business. XTX Topco Ltd purchased a new position in shares of Tempest Therapeutics in the third quarter worth $34,000. Virtu Financial LLC acquired a new position in shares of Tempest Therapeutics in the 4th quarter valued at $36,000. Northern Trust Corp raised its stake in Tempest Therapeutics by 233.2% in the 4th quarter. Northern Trust Corp now owns 67,815 shares of the company’s stock worth $57,000 after acquiring an additional 47,461 shares during the last quarter. Millennium Management LLC acquired a new stake in Tempest Therapeutics during the 4th quarter worth about $158,000. Finally, Geode Capital Management LLC grew its stake in Tempest Therapeutics by 42.7% during the 3rd quarter. Geode Capital Management LLC now owns 220,067 shares of the company’s stock valued at $308,000 after purchasing an additional 65,826 shares during the last quarter. Institutional investors and hedge funds own 22.52% of the company’s stock.

About Tempest Therapeutics

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.