Tempest Therapeutics, Inc. (NASDAQ:TPST) Short Interest Down 19.5% in January

Tempest Therapeutics, Inc. (NASDAQ:TPST) saw a significant decline in short interest in January. As of January 15th, there was short interest totalling 2,600,000 shares, a decline of 19.5% from the December 31st total of 3,230,000 shares. Currently, 6.6% of the company’s stock are sold short. Based on an average daily trading volume, of 3,870,000 shares, the short-interest ratio is presently 0.7 days.

Tempest Therapeutics Trading Down 0.9 %

Shares of TPST opened at $0.90 on Thursday. Tempest Therapeutics has a 12 month low of $0.70 and a 12 month high of $6.00. The stock has a fifty day moving average price of $0.89 and a 200-day moving average price of $1.17.

Tempest Therapeutics (NASDAQ:TPST) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.04). As a group, analysts forecast that Tempest Therapeutics will post -1.39 earnings per share for the current year.

Institutional Trading of Tempest Therapeutics

A number of institutional investors have recently bought and sold shares of TPST. Geode Capital Management LLC raised its holdings in shares of Tempest Therapeutics by 42.7% in the third quarter. Geode Capital Management LLC now owns 220,067 shares of the company’s stock worth $308,000 after buying an additional 65,826 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Tempest Therapeutics in the 3rd quarter valued at $34,000. Dimensional Fund Advisors LP purchased a new position in Tempest Therapeutics in the 2nd quarter worth $55,000. Fullcircle Wealth LLC acquired a new stake in Tempest Therapeutics during the 3rd quarter worth about $87,000. Finally, Empower Advisory Group LLC purchased a new stake in Tempest Therapeutics during the 3rd quarter valued at about $49,000. 22.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TPST. William Blair reiterated an “outperform” rating on shares of Tempest Therapeutics in a report on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and set a $47.00 price objective on shares of Tempest Therapeutics in a research report on Wednesday, November 13th. Finally, Piper Sandler reduced their target price on shares of Tempest Therapeutics from $8.00 to $5.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Tempest Therapeutics has a consensus rating of “Buy” and a consensus target price of $20.00.

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.