Short Interest in Tempest Therapeutics, Inc. (NASDAQ:TPST) Declines By 19.5%

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

Hedge Funds Weigh In On Tempest Therapeutics

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

Tempest Therapeutics Price Performance

Shares of TPST stock traded down $0.03 during trading hours on Friday, hitting $0.92. The company had a trading volume of 839,660 shares, compared to its average volume of 1,258,630. The stock has a market capitalization of $39.93 million, a PE ratio of -0.60 and a beta of -1.69. The company’s fifty day moving average is $0.89 and its 200 day moving average is $1.17. Tempest Therapeutics has a fifty-two week low of $0.70 and a fifty-two week high of $6.00.

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

Wall Street Analysts Forecast Growth

TPST has been the subject of several analyst reports. William Blair reissued an “outperform” rating on shares of Tempest Therapeutics in a research note on Wednesday, November 13th. Piper Sandler lowered their price objective 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 issued a $47.00 target price on shares of Tempest Therapeutics in a research report on Wednesday, November 13th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price 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.