What is HC Wainwright’s Forecast for TPST FY2024 Earnings?

Tempest Therapeutics, Inc. (NASDAQ:TPST) – HC Wainwright increased their FY2024 earnings estimates for shares of Tempest Therapeutics in a note issued to investors on Wednesday, November 13th. HC Wainwright analyst J. Pantginis now anticipates that the company will post earnings per share of ($1.27) for the year, up from their previous estimate of ($1.54). HC Wainwright has a “Buy” rating and a $47.00 price objective on the stock. The consensus estimate for Tempest Therapeutics’ current full-year earnings is ($1.50) per share. HC Wainwright also issued estimates for Tempest Therapeutics’ Q4 2024 earnings at ($0.19) 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.

A number of other analysts also recently issued reports on the stock. William Blair reiterated an “outperform” rating on shares of Tempest Therapeutics in a report on Wednesday. Piper Sandler decreased their target price on shares of Tempest Therapeutics from $8.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $20.00.

Tempest Therapeutics Stock Performance

Shares of TPST stock opened at $0.89 on Friday. Tempest Therapeutics has a 52 week low of $0.83 and a 52 week high of $6.00. The company has a market capitalization of $22.43 million, a P/E ratio of -0.58 and a beta of -1.78. The company’s 50 day moving average price is $1.20 and its two-hundred day moving average price is $1.95.

Hedge Funds Weigh In On Tempest Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC boosted its position in shares of Tempest Therapeutics by 69.2% in the first quarter. Virtu Financial LLC now owns 28,574 shares of the company’s stock valued at $112,000 after acquiring an additional 11,689 shares during the period. Dimensional Fund Advisors LP acquired a new position in Tempest Therapeutics in the second quarter valued at about $55,000. Fullcircle Wealth LLC acquired a new position in Tempest Therapeutics in the third quarter valued at about $87,000. XTX Topco Ltd acquired a new position in Tempest Therapeutics during the third quarter worth about $34,000. Finally, Empower Advisory Group LLC acquired a new position in Tempest Therapeutics during the third quarter worth about $49,000. 22.52% of the stock is owned by 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.