Tempest Therapeutics, Inc. (NASDAQ:TPST) Short Interest Up 18.6% in November

Tempest Therapeutics, Inc. (NASDAQ:TPST) saw a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 2,490,000 shares, a growth of 18.6% from the November 15th total of 2,100,000 shares. Based on an average daily trading volume, of 3,360,000 shares, the days-to-cover ratio is presently 0.7 days. Currently, 6.7% of the company’s shares are sold short.

Institutional Trading of Tempest Therapeutics

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

Tempest Therapeutics Stock Performance

TPST stock traded up $0.04 during midday trading on Monday, hitting $0.84. The company’s stock had a trading volume of 927,577 shares, compared to its average volume of 2,049,921. The firm has a 50-day simple moving average of $1.00 and a 200-day simple moving average of $1.56. Tempest Therapeutics has a 52-week low of $0.79 and a 52-week high of $6.00.

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

Analyst Upgrades and Downgrades

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