Tempest Therapeutics, Inc. (NASDAQ:TPST) Short Interest Update

Tempest Therapeutics, Inc. (NASDAQ:TPST) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 2,640,000 shares, a drop of 29.0% from the October 15th total of 3,720,000 shares. Currently, 11.8% of the shares of the stock are sold short. Based on an average daily volume of 4,830,000 shares, the short-interest ratio is presently 0.5 days.

Hedge Funds Weigh In On Tempest Therapeutics

Institutional investors have recently bought and sold shares of the company. Fullcircle Wealth LLC purchased a new stake in Tempest Therapeutics in the 3rd quarter valued at about $87,000. Empower Advisory Group LLC purchased a new position in shares of Tempest Therapeutics during the 3rd quarter worth approximately $49,000. Dimensional Fund Advisors LP purchased a new position in shares of Tempest Therapeutics during the 2nd quarter worth approximately $55,000. Finally, Virtu Financial LLC increased its holdings in Tempest Therapeutics by 69.2% in the 1st 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 last quarter. 22.52% of the stock is owned by hedge funds and other institutional investors.

Tempest Therapeutics Stock Performance

NASDAQ:TPST remained flat at $0.97 during trading hours on Thursday. The company’s stock had a trading volume of 1,427,124 shares, compared to its average volume of 2,105,848. Tempest Therapeutics has a 12 month low of $0.86 and a 12 month high of $6.00. The firm has a market capitalization of $24.45 million, a P/E ratio of -0.64 and a beta of -1.78. The business’s 50-day moving average price is $1.20 and its 200-day moving average price is $1.96. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.12.

Analysts Set New Price Targets

A number of analysts have recently commented on TPST shares. William Blair reissued an “outperform” rating on shares of Tempest Therapeutics in a research note on Wednesday. HC Wainwright restated a “buy” rating and issued a $47.00 target price on shares of Tempest Therapeutics in a research report on Wednesday. Finally, Piper Sandler dropped their target price on shares of Tempest Therapeutics from $8.00 to $5.00 and set an “overweight” rating for the company in a report on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently 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.