Tempest Therapeutics, Inc. (NASDAQ:TPST) Sees Large Increase in Short Interest

Tempest Therapeutics, Inc. (NASDAQ:TPST) was the target of a large growth in short interest in January. As of January 15th, there was short interest totalling 3,130,000 shares, a growth of 20.4% from the December 31st total of 2,600,000 shares. Approximately 7.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,030,000 shares, the days-to-cover ratio is presently 1.5 days.

Hedge Funds Weigh In On Tempest Therapeutics

A number of large investors have recently bought and sold shares of the business. XTX Topco Ltd bought a new stake in shares of Tempest Therapeutics during the third quarter worth $34,000. Dimensional Fund Advisors LP bought a new stake in Tempest Therapeutics during the 2nd quarter valued at about $55,000. Empower Advisory Group LLC purchased a new stake in Tempest Therapeutics in the 3rd quarter valued at about $49,000. Fullcircle Wealth LLC bought a new position in Tempest Therapeutics in the 3rd quarter worth about $87,000. Finally, Geode Capital Management LLC grew 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 worth $308,000 after acquiring an additional 65,826 shares in the last quarter. Hedge funds and other institutional investors own 22.52% of the company’s stock.

Analyst Upgrades and Downgrades

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

Tempest Therapeutics Price Performance

Shares of TPST opened at $0.92 on Monday. The company’s fifty day simple moving average is $0.89 and its 200-day simple moving average is $1.15. Tempest Therapeutics has a twelve month low of $0.70 and a twelve month high of $6.00.

Tempest Therapeutics (NASDAQ:TPST) last posted its quarterly earnings data 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). On average, research analysts expect that Tempest Therapeutics will post -1.39 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.