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

Tempest Therapeutics, Inc. (NASDAQ:TPST) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 3,720,000 shares, a growth of 100.0% from the September 30th total of 1,860,000 shares. Currently, 17.6% of the shares of the stock are short sold. Based on an average trading volume of 4,310,000 shares, the short-interest ratio is currently 0.9 days.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and issued a $47.00 price objective on shares of Tempest Therapeutics in a report on Thursday, October 10th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $20.75.

Insiders Place Their Bets

In other news, major shareholder Versant Venture Capital Vi, L. sold 387,999 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $1.10, for a total transaction of $426,798.90. Following the completion of the sale, the insider now owns 209,941 shares of the company’s stock, valued at $230,935.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.27% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tempest Therapeutics

A hedge fund recently bought a new stake in Tempest Therapeutics stock. Dimensional Fund Advisors LP purchased a new stake in shares of Tempest Therapeutics, Inc. (NASDAQ:TPST) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 25,084 shares of the company’s stock, valued at approximately $55,000. Dimensional Fund Advisors LP owned 0.11% of Tempest Therapeutics as of its most recent filing with the SEC. 22.52% of the stock is owned by institutional investors.

Tempest Therapeutics Price Performance

Shares of TPST stock traded up $0.03 during trading hours on Friday, reaching $1.09. The company had a trading volume of 3,577,000 shares, compared to its average volume of 2,029,640. Tempest Therapeutics has a 12-month low of $0.92 and a 12-month high of $6.00. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.17 and a current ratio of 2.17. The company has a market capitalization of $27.48 million, a price-to-earnings ratio of -0.68 and a beta of -1.86. The stock has a fifty day moving average of $1.29 and a 200-day moving average of $2.19.

Tempest Therapeutics (NASDAQ:TPST) last issued its earnings results on Thursday, August 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.05. On average, equities analysts anticipate that Tempest Therapeutics will post -1.5 earnings per share for the current year.

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.