Tempest Therapeutics, Inc. (NASDAQ:TPST) Short Interest Update

Tempest Therapeutics, Inc. (NASDAQ:TPST) was the target of a large growth in short interest in December. As of December 15th, there was short interest totalling 3,230,000 shares, a growth of 29.7% from the November 30th total of 2,490,000 shares. Based on an average daily volume of 3,600,000 shares, the short-interest ratio is currently 0.9 days. Currently, 8.2% of the company’s stock are sold short.

Tempest Therapeutics Stock Performance

TPST traded down $0.04 on Friday, hitting $0.84. 1,554,274 shares of the company were exchanged, compared to its average volume of 2,055,109. The stock’s fifty day moving average is $0.93 and its 200-day moving average is $1.40. The company has a market cap of $36.70 million, a PE ratio of -0.55 and a beta of -1.78. Tempest Therapeutics has a 12 month low of $0.70 and a 12 month high of $6.00.

Tempest Therapeutics (NASDAQ:TPST) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.04). As a group, equities research analysts expect that Tempest Therapeutics will post -1.39 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. William Blair restated an “outperform” rating on shares of Tempest Therapeutics in a report on Wednesday, November 13th. Piper Sandler cut their price objective on shares of Tempest Therapeutics from $8.00 to $5.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $47.00 target price on shares of Tempest Therapeutics in a report on Wednesday, November 13th. Five equities research 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 price target of $20.00.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. XTX Topco Ltd acquired a new position in Tempest Therapeutics during the third quarter worth approximately $34,000. Empower Advisory Group LLC acquired a new position in shares of Tempest Therapeutics in the third quarter valued at approximately $49,000. Dimensional Fund Advisors LP acquired a new stake in Tempest Therapeutics during the 2nd quarter worth approximately $55,000. Fullcircle Wealth LLC acquired a new position in Tempest Therapeutics in the 3rd quarter valued at $87,000. Finally, Geode Capital Management LLC increased its position in Tempest Therapeutics by 42.7% during the 3rd 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 period. 22.52% of the stock is currently owned by institutional investors and hedge funds.

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.