Tempest Therapeutics (NASDAQ:TPST) Price Target Lowered to $5.00 at Piper Sandler

Tempest Therapeutics (NASDAQ:TPST) had its price target lowered by investment analysts at Piper Sandler from $8.00 to $5.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 397.51% from the stock’s previous close.

Several other brokerages have also recently issued reports on TPST. William Blair reissued an “outperform” rating on shares of Tempest Therapeutics in a research report on Wednesday. HC Wainwright reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Tempest Therapeutics in a research note on Wednesday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Tempest Therapeutics currently has a consensus rating of “Buy” and an average target price of $20.00.

Tempest Therapeutics Stock Down 6.9 %

Tempest Therapeutics stock traded down $0.08 on Wednesday, hitting $1.01. 2,221,394 shares of the stock traded hands, compared to its average volume of 2,103,408. Tempest Therapeutics has a 1 year low of $0.86 and a 1 year high of $6.00. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.12. The business’s fifty day simple moving average is $1.21 and its 200 day simple moving average is $1.98. The firm has a market cap of $25.34 million, a P/E ratio of -0.65 and a beta of -1.78.

Institutional Trading of Tempest Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of TPST. Virtu Financial LLC raised its position in Tempest Therapeutics by 69.2% in the first quarter. Virtu Financial LLC now owns 28,574 shares of the company’s stock valued at $112,000 after purchasing an additional 11,689 shares during the period. Dimensional Fund Advisors LP purchased a new stake in Tempest Therapeutics during the 2nd quarter worth about $55,000. Fullcircle Wealth LLC acquired a new position in shares of Tempest Therapeutics during the 3rd quarter worth about $87,000. Finally, Empower Advisory Group LLC acquired a new stake in shares of Tempest Therapeutics in the 3rd quarter valued at about $49,000. 22.52% of the stock is owned by institutional investors and hedge funds.

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.