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

Tempest Therapeutics, Inc. (NASDAQ:TPST) was the recipient of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 2,600,000 shares, a decline of 19.5% from the December 15th total of 3,230,000 shares. Approximately 6.6% of the company’s shares are sold short. Based on an average daily trading volume, of 3,870,000 shares, the short-interest ratio is presently 0.7 days.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on TPST. Piper Sandler decreased their target price on Tempest Therapeutics from $8.00 to $5.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. HC Wainwright restated a “buy” rating and issued a $47.00 price objective on shares of Tempest Therapeutics in a report on Wednesday, November 13th. Finally, William Blair reaffirmed an “outperform” rating on shares of Tempest Therapeutics in a research note on Wednesday, November 13th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tempest Therapeutics currently has an average rating of “Buy” and a consensus target price of $20.00.

Tempest Therapeutics Trading Up 0.3 %

Shares of Tempest Therapeutics stock opened at $0.90 on Friday. Tempest Therapeutics has a 1 year low of $0.70 and a 1 year high of $6.00. The company has a 50-day moving average of $0.90 and a 200 day moving average of $1.25.

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

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.