Tempest Therapeutics (NASDAQ:TPST) Given “Neutral” Rating at HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of Tempest Therapeutics (NASDAQ:TPST) in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. HC Wainwright currently has a $16.00 price objective on the stock.

Separately, Scotiabank reissued a “sector perform” rating and set a $9.00 target price (up previously from $7.00) on shares of Tempest Therapeutics in a research report on Thursday.

Tempest Therapeutics Stock Down 18.0 %

Shares of NASDAQ:TPST opened at $5.86 on Thursday. The business’s 50 day moving average is $1.17 and its 200 day moving average is $1.05. The stock has a market cap of $266.53 million, a P/E ratio of -3.83 and a beta of -2.34. Tempest Therapeutics has a 52-week low of $5.35 and a 52-week high of $51.29.

Tempest Therapeutics (NASDAQ:TPST) last issued its earnings results on Thursday, March 27th. The company reported ($4.03) earnings per share for the quarter, missing the consensus estimate of ($3.12) by ($0.91). The business had revenue of $0.49 million during the quarter. On average, sell-side analysts anticipate that Tempest Therapeutics will post -1.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new stake in shares of Tempest Therapeutics during the 3rd quarter worth $34,000. Virtu Financial LLC bought a new position in Tempest Therapeutics in the fourth quarter worth about $36,000. Northern Trust Corp lifted its position in shares of Tempest Therapeutics by 233.2% during the fourth quarter. Northern Trust Corp now owns 67,815 shares of the company’s stock valued at $57,000 after buying an additional 47,461 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Tempest Therapeutics by 42.7% in the 3rd quarter. Geode Capital Management LLC now owns 220,067 shares of the company’s stock valued at $308,000 after buying an additional 65,826 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Tempest Therapeutics in the 4th quarter worth approximately $158,000. 22.52% of the stock is currently owned by hedge funds and other institutional investors.

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.