Tempest Therapeutics, Inc. Forecasted to Earn Q2 2024 Earnings of ($0.56) Per Share (NASDAQ:TPST)

Tempest Therapeutics, Inc. (NASDAQ:TPST) – Investment analysts at William Blair decreased their Q2 2024 earnings per share estimates for Tempest Therapeutics in a report issued on Thursday, June 20th. William Blair analyst M. Phipps now forecasts that the company will earn ($0.56) per share for the quarter, down from their previous estimate of ($0.50). William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Tempest Therapeutics’ current full-year earnings is ($1.51) per share. William Blair also issued estimates for Tempest Therapeutics’ Q3 2024 earnings at ($0.45) EPS, Q1 2025 earnings at ($0.53) EPS, Q2 2025 earnings at ($0.62) EPS, Q3 2025 earnings at ($0.68) EPS, Q4 2025 earnings at ($0.77) EPS, FY2025 earnings at ($2.61) EPS, FY2026 earnings at ($4.09) EPS and FY2027 earnings at ($4.38) EPS.

Other equities analysts have also recently issued research reports about the company. Piper Sandler reiterated an “overweight” rating and issued a $8.00 price target on shares of Tempest Therapeutics in a report on Friday, June 21st. Scotiabank initiated coverage on Tempest Therapeutics in a report on Thursday, March 14th. They issued a “sector outperform” rating and a $13.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $47.00 price target on shares of Tempest Therapeutics in a report on Thursday, June 20th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $20.75.

Tempest Therapeutics Price Performance

Tempest Therapeutics stock opened at $2.06 on Monday. The business’s 50-day simple moving average is $3.19 and its 200 day simple moving average is $3.68. The stock has a market cap of $45.77 million, a price-to-earnings ratio of -1.20 and a beta of -1.78. Tempest Therapeutics has a 12-month low of $0.17 and a 12-month high of $9.77. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 0.20.

Tempest Therapeutics (NASDAQ:TPST) last announced its earnings results on Thursday, May 9th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.08.

Hedge Funds Weigh In On Tempest Therapeutics

A hedge fund recently raised its stake in Tempest Therapeutics stock. Virtu Financial LLC raised its stake in Tempest Therapeutics, Inc. (NASDAQ:TPST) by 69.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,574 shares of the company’s stock after buying an additional 11,689 shares during the quarter. Virtu Financial LLC owned 0.13% of Tempest Therapeutics worth $112,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 22.52% of the company’s stock.

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.