Tempest Therapeutics (NASDAQ:TPST) Stock Price Down 1.6% – Here’s What Happened

Shares of Tempest Therapeutics, Inc. (NASDAQ:TPST) fell 1.6% on Wednesday . The stock traded as low as $3.11 and last traded at $3.15. 75,696 shares changed hands during trading, a decline of 69% from the average session volume of 244,890 shares. The stock had previously closed at $3.20.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TPST shares. Weiss Ratings restated a “sell (d-)” rating on shares of Tempest Therapeutics in a research report on Thursday, December 4th. Wall Street Zen raised Tempest Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, October 11th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Tempest Therapeutics currently has a consensus rating of “Reduce” and an average price target of $12.50.

Tempest Therapeutics Trading Down 1.6%

The firm has a market cap of $13.99 million, a PE ratio of -0.31 and a beta of -2.43. The firm has a fifty day simple moving average of $8.08 and a two-hundred day simple moving average of $8.18.

Tempest Therapeutics (NASDAQ:TPST) last posted its earnings results on Wednesday, November 5th. The company reported ($0.79) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.27) by $2.48. Equities analysts expect that Tempest Therapeutics, Inc. will post -1.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tempest Therapeutics

An institutional investor recently raised its position in Tempest Therapeutics stock. Vanguard Group Inc. boosted its holdings in Tempest Therapeutics, Inc. (NASDAQ:TPST) by 20.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 162,560 shares of the company’s stock after purchasing an additional 27,952 shares during the quarter. Vanguard Group Inc. owned about 3.66% of Tempest Therapeutics worth $1,671,000 at the end of the most recent 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.