Tempest Therapeutics (NASDAQ:TPST) Earns Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Tempest Therapeutics (NASDAQ:TPST) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $47.00 price target on the stock. HC Wainwright also issued estimates for Tempest Therapeutics’ Q4 2024 earnings at ($0.19) EPS, FY2024 earnings at ($1.27) EPS, FY2025 earnings at ($0.87) EPS, FY2026 earnings at ($1.07) EPS, FY2027 earnings at ($0.89) EPS and FY2028 earnings at ($1.04) EPS.

Tempest Therapeutics Trading Down 8.3 %

NASDAQ:TPST opened at $0.89 on Wednesday. The business’s fifty day moving average price is $1.19 and its 200 day moving average price is $1.93. The firm has a market capitalization of $22.43 million, a price-to-earnings ratio of -0.58 and a beta of -1.78. Tempest Therapeutics has a 1-year low of $0.83 and a 1-year high of $6.00.

Tempest Therapeutics (NASDAQ:TPST) last issued its earnings results on Tuesday, November 12th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.04). Equities analysts forecast that Tempest Therapeutics will post -1.5 earnings per share for the current year.

Institutional Investors Weigh In On Tempest Therapeutics

A number of institutional investors have recently modified their holdings of TPST. Virtu Financial LLC raised its holdings in shares of Tempest Therapeutics by 69.2% during the first quarter. Virtu Financial LLC now owns 28,574 shares of the company’s stock worth $112,000 after acquiring an additional 11,689 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Tempest Therapeutics during the 2nd quarter valued at about $55,000. Fullcircle Wealth LLC bought a new stake in shares of Tempest Therapeutics in the 3rd quarter valued at approximately $87,000. Empower Advisory Group LLC bought a new stake in shares of Tempest Therapeutics in the 3rd quarter valued at approximately $49,000. Finally, XTX Topco Ltd acquired a new position in Tempest Therapeutics in the third quarter worth approximately $34,000. Institutional investors and hedge funds own 22.52% of the company’s stock.

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.