HC Wainwright Cuts Tempest Therapeutics (NASDAQ:TPST) Price Target to $16.00

Tempest Therapeutics (NASDAQ:TPST) had its price objective reduced by HC Wainwright from $47.00 to $16.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock.

Tempest Therapeutics Stock Up 4.8 %

NASDAQ TPST opened at $0.84 on Friday. Tempest Therapeutics has a 52 week low of $0.70 and a 52 week high of $6.00. The company has a market capitalization of $36.66 million, a P/E ratio of -0.55 and a beta of -1.83. The stock’s 50-day moving average price is $0.87 and its 200-day moving average price is $0.98.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TPST. XTX Topco Ltd purchased a new position in shares of Tempest Therapeutics in the third quarter valued at about $34,000. Geode Capital Management LLC boosted its stake in Tempest Therapeutics by 42.7% in the 3rd 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 during the period. Virtu Financial LLC purchased a new stake in Tempest Therapeutics during the 4th quarter valued at approximately $36,000. Versant Venture Management LLC bought a new stake in shares of Tempest Therapeutics during the fourth quarter valued at approximately $2,927,000. Finally, Northern Trust Corp increased its holdings in Tempest Therapeutics by 233.2% in the 4th 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 during the last quarter. Hedge funds and other institutional investors 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.