Tempest Therapeutics, Inc. (NASDAQ:TPST) Sees Large Decline in Short Interest

Tempest Therapeutics, Inc. (NASDAQ:TPST) was the target of a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 395,021 shares, a drop of 38.3% from the April 15th total of 640,470 shares. Based on an average trading volume of 241,206 shares, the days-to-cover ratio is presently 1.6 days. Currently, 2.9% of the shares of the company are sold short.

Insiders Place Their Bets

In other Tempest Therapeutics news, CEO Matthew Angel acquired 231,482 shares of the company’s stock in a transaction on Tuesday, March 24th. The stock was acquired at an average price of $2.16 per share, for a total transaction of $500,001.12. Following the purchase, the chief executive officer directly owned 231,482 shares of the company’s stock, valued at $500,001.12. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 6.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tempest Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP bought a new position in Tempest Therapeutics in the 4th quarter valued at approximately $33,000. Vanguard Group Inc. lifted its stake in Tempest Therapeutics by 20.8% in the 3rd quarter. Vanguard Group Inc. now owns 162,560 shares of the company’s stock valued at $1,671,000 after purchasing an additional 27,952 shares during the last quarter. Finally, Sabby Management LLC bought a new position in Tempest Therapeutics in the 4th quarter valued at approximately $513,000. Institutional investors own 22.52% of the company’s stock.

Tempest Therapeutics Price Performance

NASDAQ:TPST traded down $0.04 during mid-day trading on Tuesday, reaching $1.79. The stock had a trading volume of 79,932 shares, compared to its average volume of 174,926. Tempest Therapeutics has a 12 month low of $1.50 and a 12 month high of $12.23. The stock has a market capitalization of $26.44 million, a PE ratio of -0.29 and a beta of -1.75. The stock has a 50-day simple moving average of $1.93 and a two-hundred day simple moving average of $3.23.

Tempest Therapeutics (NASDAQ:TPST) last issued its earnings results on Friday, May 15th. The company reported ($2.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($2.25). Equities analysts expect that Tempest Therapeutics will post -1.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Wall Street Zen cut shares of Tempest Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Research downgraded Tempest Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce”.

About Tempest Therapeutics

Tempest Therapeutics is a clinical?stage biopharmaceutical company focused on the discovery and development of small molecule therapies for cancer and immune?mediated diseases. Leveraging a proprietary drug discovery platform, Tempest advances programs designed to modulate tumor metabolism and enhance antitumor immunity. Its pipeline includes oral, selective inhibitors targeting pathways such as peroxisome proliferator?activated receptor alpha (PPAR?) and salt?inducible kinase (SIK), with potential applications across solid tumors and hematologic malignancies.

The company’s lead candidate, TPST-1120, is a first?in?class PPAR? antagonist designed to reprogram the tumor microenvironment by disrupting fatty acid oxidation in immune and cancer cells.