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

Tempest Therapeutics, Inc. (NASDAQ:TPST) was the target of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 2,600,000 shares, a decline of 19.5% from the December 15th total of 3,230,000 shares. Approximately 6.6% of the shares of the company are sold short. Based on an average daily volume of 3,870,000 shares, the days-to-cover ratio is presently 0.7 days.

Tempest Therapeutics Stock Up 3.4 %

Shares of TPST traded up $0.03 during mid-day trading on Friday, reaching $0.93. The company had a trading volume of 482,039 shares, compared to its average volume of 1,838,826. The stock has a 50 day moving average of $0.89 and a two-hundred day moving average of $1.25. The stock has a market capitalization of $40.40 million, a P/E ratio of -0.61 and a beta of -1.69. Tempest Therapeutics has a 52-week low of $0.70 and a 52-week high of $6.00.

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

Institutional Trading of Tempest Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TPST. Dimensional Fund Advisors LP acquired a new position in shares of Tempest Therapeutics in the second quarter worth about $55,000. Fullcircle Wealth LLC purchased a new position in shares of Tempest Therapeutics in the 3rd quarter valued at about $87,000. Empower Advisory Group LLC acquired a new position in Tempest Therapeutics in the 3rd quarter worth about $49,000. XTX Topco Ltd purchased a new position in Tempest Therapeutics during the third quarter worth approximately $34,000. Finally, Geode Capital Management LLC increased its position in shares of Tempest Therapeutics by 42.7% in the third quarter. Geode Capital Management LLC now owns 220,067 shares of the company’s stock valued at $308,000 after buying an additional 65,826 shares in the last quarter. Institutional investors and hedge funds own 22.52% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on TPST shares. William Blair restated an “outperform” rating on shares of Tempest Therapeutics in a research note on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and set a $47.00 price target on shares of Tempest Therapeutics in a research report on Wednesday, November 13th. Finally, Piper Sandler decreased their price objective on shares of Tempest Therapeutics from $8.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Tempest Therapeutics presently has a consensus 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.