Tempest Therapeutics (NASDAQ:TPST) Stock Price Down 5.5% – Time to Sell?

Tempest Therapeutics, Inc. (NASDAQ:TPST) shares were down 5.5% on Monday . The stock traded as low as $0.77 and last traded at $0.79. Approximately 408,072 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 2,108,459 shares. The stock had previously closed at $0.84.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Piper Sandler lowered their price objective on shares of Tempest Therapeutics from $8.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. William Blair reaffirmed an “outperform” rating on shares of Tempest Therapeutics in a research report on Wednesday, November 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $47.00 price target on shares of Tempest Therapeutics in a research report on Wednesday, November 13th.

Tempest Therapeutics Trading Up 0.8 %

The business’s 50-day simple moving average is $0.89 and its two-hundred day simple moving average is $1.02. The company has a market capitalization of $35.47 million, a PE ratio of -0.53 and a beta of -1.83.

Hedge Funds Weigh In On Tempest Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TPST. XTX Topco Ltd acquired a new stake in shares of Tempest Therapeutics in the 3rd quarter valued at about $34,000. Empower Advisory Group LLC acquired a new stake in shares of Tempest Therapeutics in the third quarter valued at approximately $49,000. Virtu Financial LLC acquired a new stake in shares of Tempest Therapeutics in the fourth quarter valued at approximately $36,000. Northern Trust Corp boosted its holdings in shares of Tempest Therapeutics by 233.2% in the fourth quarter. Northern Trust Corp now owns 67,815 shares of the company’s stock valued at $57,000 after acquiring an additional 47,461 shares in the last quarter. Finally, Millennium Management LLC bought a new position in shares of Tempest Therapeutics in the fourth quarter valued at approximately $158,000. 22.52% of the stock is owned by hedge funds and other institutional investors.

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.