Tempest Therapeutics, Inc. (NASDAQ:TPST) Short Interest Down 19.5% in January

Tempest Therapeutics, Inc. (NASDAQ:TPST) was the recipient of a significant decline in short interest in January. As of January 15th, there was short interest totalling 2,600,000 shares, a decline of 19.5% from the December 31st total of 3,230,000 shares. Currently, 6.6% of the company’s stock are short sold. Based on an average daily volume of 3,870,000 shares, the short-interest ratio is presently 0.7 days.

Tempest Therapeutics Stock Performance

Shares of TPST stock traded down $0.03 during mid-day trading on Friday, hitting $0.92. 839,660 shares of the stock were exchanged, compared to its average volume of 1,258,630. The stock’s fifty day simple moving average is $0.89 and its two-hundred day simple moving average is $1.17. Tempest Therapeutics has a 12-month low of $0.70 and a 12-month high of $6.00. The stock has a market capitalization of $39.93 million, a price-to-earnings ratio of -0.60 and a beta of -1.69.

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

Hedge Funds Weigh In On Tempest Therapeutics

A number of institutional investors have recently modified their holdings of the business. XTX Topco Ltd acquired a new stake in Tempest Therapeutics during the 3rd quarter worth $34,000. Empower Advisory Group LLC acquired a new stake in shares of Tempest Therapeutics during the third quarter worth about $49,000. Dimensional Fund Advisors LP acquired a new stake in shares of Tempest Therapeutics during the second quarter worth about $55,000. Fullcircle Wealth LLC purchased a new position in shares of Tempest Therapeutics during the third quarter worth about $87,000. Finally, Geode Capital Management LLC increased its position 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 during the period. 22.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TPST shares. Piper Sandler cut their price target on Tempest Therapeutics from $8.00 to $5.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. William Blair reissued an “outperform” rating on shares of Tempest Therapeutics in a research report on Wednesday, November 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $47.00 price target on shares of Tempest Therapeutics in a report on Wednesday, November 13th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $20.00.

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.