Tempest Therapeutics (NASDAQ:TPST) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Tempest Therapeutics (NASDAQ:TPST) in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a $47.00 price target on the stock.

Separately, Piper Sandler restated an overweight rating and set a $8.00 price objective on shares of Tempest Therapeutics in a research report on Friday, June 21st. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of Buy and an average price target of $20.75.

Tempest Therapeutics Stock Performance

Tempest Therapeutics stock opened at $1.44 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.17 and a current ratio of 2.17. Tempest Therapeutics has a one year low of $0.17 and a one year high of $9.77. The stock’s 50 day moving average price is $2.02 and its 200 day moving average price is $3.07. The firm has a market capitalization of $36.30 million, a PE ratio of -0.84 and a beta of -1.73.

Tempest Therapeutics (NASDAQ:TPST) last released its earnings results on Thursday, August 8th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.05. As a group, sell-side analysts expect that Tempest Therapeutics will post -1.56 EPS for the current fiscal year.

Insider Transactions at Tempest Therapeutics

In other news, CEO Stephen R. Brady acquired 35,000 shares of Tempest Therapeutics stock in a transaction that occurred on Wednesday, July 3rd. The stock was purchased at an average price of $2.11 per share, with a total value of $73,850.00. Following the completion of the transaction, the chief executive officer now owns 46,376 shares in the company, valued at $97,853.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, major shareholder Versant Venture Capital Vi, L. sold 400,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $1.35, for a total transaction of $540,000.00. Following the transaction, the insider now owns 597,940 shares of the company’s stock, valued at approximately $807,219. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen R. Brady purchased 35,000 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was purchased at an average cost of $2.11 per share, for a total transaction of $73,850.00. Following the transaction, the chief executive officer now owns 46,376 shares of the company’s stock, valued at $97,853.36. The disclosure for this purchase can be found here. Insiders acquired a total of 47,172 shares of company stock valued at $100,001 over the last quarter. Company insiders own 3.27% of the company’s stock.

Institutional Trading of Tempest Therapeutics

A number of hedge funds have recently bought and sold shares of TPST. Virtu Financial LLC lifted its position in shares of Tempest Therapeutics by 69.2% during the 1st quarter. Virtu Financial LLC now owns 28,574 shares of the company’s stock worth $112,000 after buying an additional 11,689 shares during the period. MayTech Global Investments LLC acquired a new position in Tempest Therapeutics during the fourth quarter worth $44,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of Tempest Therapeutics during the second quarter valued at $55,000. 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.