Short Interest in Tempest Therapeutics, Inc. (NASDAQ:TPST) Increases By 29.7%

Tempest Therapeutics, Inc. (NASDAQ:TPST) was the recipient of a significant growth in short interest in December. As of December 15th, there was short interest totalling 3,230,000 shares, a growth of 29.7% from the November 30th total of 2,490,000 shares. Based on an average daily trading volume, of 3,600,000 shares, the short-interest ratio is currently 0.9 days. Currently, 8.2% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new stake in shares of Tempest Therapeutics in the 3rd quarter valued at $34,000. Dimensional Fund Advisors LP bought a new stake in shares of Tempest Therapeutics during the 2nd quarter valued at about $55,000. Empower Advisory Group LLC acquired a new stake in Tempest Therapeutics during the third quarter worth approximately $49,000. Fullcircle Wealth LLC bought a new stake in Tempest Therapeutics in the third quarter worth approximately $87,000. Finally, Geode Capital Management LLC lifted its stake in 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 during the period. Institutional investors own 22.52% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on TPST shares. William Blair reiterated an “outperform” rating on shares of Tempest Therapeutics in a report on Wednesday, November 13th. Piper Sandler dropped their target price 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. Finally, HC Wainwright restated a “buy” rating and set 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 MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $20.00.

Tempest Therapeutics Trading Down 4.8 %

NASDAQ:TPST traded down $0.04 during trading hours on Friday, hitting $0.84. 1,554,274 shares of the company were exchanged, compared to its average volume of 2,055,109. The stock has a market capitalization of $36.70 million, a price-to-earnings ratio of -0.55 and a beta of -1.78. Tempest Therapeutics has a one year low of $0.70 and a one year high of $6.00. The company has a fifty day simple moving average of $0.93 and a 200 day simple moving average of $1.40.

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

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.