Versant Venture Capital Vi, L. Sells 400,000 Shares of Tempest Therapeutics, Inc. (NASDAQ:TPST) Stock

Tempest Therapeutics, Inc. (NASDAQ:TPST) major shareholder Versant Venture Capital Vi, L. sold 400,000 shares of Tempest Therapeutics stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $1.35, for a total value of $540,000.00. Following the completion of the sale, the insider now directly owns 597,940 shares of the company’s stock, valued at $807,219. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Versant Venture Capital Vi, L. also recently made the following trade(s):

• On Monday, August 12th, Versant Venture Capital Vi, L. sold 387,999 shares of Tempest Therapeutics stock. The shares were sold at an average price of $1.10, for a total value of $426,798.90.

Tempest Therapeutics Trading Down 16.8 %

Shares of NASDAQ:TPST traded down $0.19 during midday trading on Monday, hitting $0.96. The company had a trading volume of 2,361,838 shares, compared to its average volume of 946,196. The firm has a fifty day simple moving average of $2.22 and a 200 day simple moving average of $3.16. The company has a current ratio of 3.13, a quick ratio of 3.13 and a debt-to-equity ratio of 0.20. The stock has a market cap of $21.26 million, a price-to-earnings ratio of -0.57 and a beta of -1.73. Tempest Therapeutics, Inc. has a 12 month low of $0.17 and a 12 month high of $9.77.

Tempest Therapeutics (NASDAQ:TPST) last posted its earnings results on Thursday, August 8th. The company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.05. On average, analysts predict that Tempest Therapeutics, Inc. will post -1.57 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC lifted its holdings in Tempest Therapeutics by 69.2% during the first quarter. Virtu Financial LLC now owns 28,574 shares of the company’s stock worth $112,000 after acquiring an additional 11,689 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Tempest Therapeutics in the 2nd quarter valued at about $55,000. Finally, MayTech Global Investments LLC acquired a new stake in shares of Tempest Therapeutics in the 4th quarter valued at about $44,000. 22.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TPST has been the subject of several research reports. HC Wainwright reissued a “buy” rating and issued a $47.00 target price on shares of Tempest Therapeutics in a research note on Thursday, June 20th. Piper Sandler restated an “overweight” rating and issued a $8.00 price target on shares of Tempest Therapeutics in a research report on Friday, June 21st. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $20.75.

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.