Tempest Therapeutics (NASDAQ:TPST) Announces Quarterly Earnings Results

Tempest Therapeutics (NASDAQ:TPST) announced its quarterly earnings results on Thursday. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07), Zacks reports. The business had revenue of $0.49 million for the quarter.

Tempest Therapeutics Stock Performance

Shares of TPST traded down $0.07 during midday trading on Friday, hitting $0.77. The company had a trading volume of 508,772 shares, compared to its average volume of 2,094,839. The company’s 50-day simple moving average is $0.87 and its 200-day simple moving average is $0.98. Tempest Therapeutics has a 1 year low of $0.70 and a 1 year high of $6.00. The firm has a market capitalization of $33.70 million, a P/E ratio of -0.50 and a beta of -1.83.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Scotiabank lowered their price target on Tempest Therapeutics from $13.00 to $7.00 and set a “sector outperform” rating for the company in a research report on Friday. HC Wainwright lowered their target price on Tempest Therapeutics from $47.00 to $16.00 and set a “buy” rating for the company in a report on Friday.

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.