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

Tempest Therapeutics, Inc. (NASDAQ:TPST) was the recipient of a significant decline in short interest in 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. Currently, 6.6% of the company’s shares are short sold. Based on an average daily volume of 3,870,000 shares, the short-interest ratio is currently 0.7 days.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. William Blair restated an “outperform” rating on shares of Tempest Therapeutics in a report on Wednesday, November 13th. HC Wainwright restated a “buy” rating and issued a $47.00 price objective on shares of Tempest Therapeutics in a report on Wednesday, November 13th. Finally, Piper Sandler dropped their target price on shares of Tempest Therapeutics from $8.00 to $5.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $20.00.

Tempest Therapeutics Trading Down 2.8 %

Shares of NASDAQ:TPST opened at $0.89 on Thursday. The company has a market capitalization of $38.97 million, a PE ratio of -0.58 and a beta of -1.69. Tempest Therapeutics has a 12-month low of $0.70 and a 12-month high of $6.00. The business’s fifty day simple moving average is $0.90 and its 200-day simple moving average is $1.26.

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

Institutional Investors Weigh In On Tempest Therapeutics

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

About Tempest Therapeutics

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.