Short Interest in Tempest Therapeutics, Inc. (NASDAQ:TPST) Grows By 100.0%

Tempest Therapeutics, Inc. (NASDAQ:TPST) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 3,720,000 shares, a growth of 100.0% from the September 30th total of 1,860,000 shares. Approximately 17.6% of the company’s shares are sold short. Based on an average daily volume of 4,310,000 shares, the days-to-cover ratio is currently 0.9 days.

Insider Buying and Selling

In other Tempest Therapeutics news, major shareholder Versant Venture Capital Vi, L. sold 387,999 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $1.10, for a total transaction of $426,798.90. Following the completion of the transaction, the insider now owns 209,941 shares of the company’s stock, valued at $230,935.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.27% of the company’s stock.

Institutional Investors Weigh In On Tempest Therapeutics

A hedge fund recently bought a new stake in Tempest Therapeutics stock. Dimensional Fund Advisors LP bought a new position in shares of Tempest Therapeutics, Inc. (NASDAQ:TPST) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 25,084 shares of the company’s stock, valued at approximately $55,000. Dimensional Fund Advisors LP owned approximately 0.11% of Tempest Therapeutics at the end of the most recent quarter. 22.52% of the stock is currently owned by hedge funds and other institutional investors.

Tempest Therapeutics Stock Up 2.8 %

TPST traded up $0.03 during trading hours on Friday, hitting $1.09. 3,577,000 shares of the company’s stock were exchanged, compared to its average volume of 2,029,640. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.12. Tempest Therapeutics has a 12-month low of $0.92 and a 12-month high of $6.00. The firm has a market cap of $27.48 million, a P/E ratio of -0.68 and a beta of -1.86. The firm has a 50 day moving average of $1.29 and a 200 day moving average of $2.19.

Tempest Therapeutics (NASDAQ:TPST) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.05. Analysts predict that Tempest Therapeutics will post -1.5 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and issued a $47.00 price objective on shares of Tempest Therapeutics in a report on Thursday, October 10th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $20.75.

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.