Tempest Therapeutics, Inc. (NASDAQ:TPST) Short Interest Down 17.8% in March

Tempest Therapeutics, Inc. (NASDAQ:TPST) was the target of a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 1,750,000 shares, a decline of 17.8% from the February 28th total of 2,130,000 shares. Approximately 4.4% of the company’s shares are sold short. Based on an average daily volume of 1,030,000 shares, the short-interest ratio is presently 1.7 days.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TPST. Scotiabank cut their target price on Tempest Therapeutics from $13.00 to $7.00 and set a “sector outperform” rating on the stock in a research note on Friday. HC Wainwright reduced their price target on shares of 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 Performance

NASDAQ TPST opened at $0.74 on Tuesday. Tempest Therapeutics has a 52-week low of $0.70 and a 52-week high of $6.00. The business has a 50 day simple moving average of $0.86 and a 200 day simple moving average of $0.97. The stock has a market cap of $32.34 million, a price-to-earnings ratio of -0.48 and a beta of -1.83.

Tempest Therapeutics (NASDAQ:TPST) last released its earnings results on Thursday, March 27th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). The business had revenue of $0.49 million during the quarter. On average, analysts predict that Tempest Therapeutics will post -1.39 EPS for the current year.

Institutional Trading of Tempest Therapeutics

A number of institutional investors have recently made changes to their positions in the business. XTX Topco Ltd bought a new position in shares of Tempest Therapeutics in the 3rd quarter valued at about $34,000. Virtu Financial LLC bought a new position in Tempest Therapeutics in the fourth quarter valued at approximately $36,000. Northern Trust Corp increased its position in shares of Tempest Therapeutics by 233.2% during the 4th quarter. Northern Trust Corp now owns 67,815 shares of the company’s stock worth $57,000 after purchasing an additional 47,461 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Tempest Therapeutics during the 4th quarter worth approximately $158,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Tempest Therapeutics by 61.0% in the 4th quarter. Geode Capital Management LLC now owns 354,276 shares of the company’s stock valued at $296,000 after buying an additional 134,209 shares during the last quarter. Institutional investors own 22.52% of the company’s stock.

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.