Tempest Therapeutics (NASDAQ:TPST) Issues Quarterly Earnings Results

Tempest Therapeutics (NASDAQ:TPST) released its earnings results on Thursday. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07), Zacks reports. The business had revenue of $0.49 million for the quarter.

Tempest Therapeutics Stock Performance

Tempest Therapeutics stock traded down $0.07 during mid-day trading on Friday, reaching $0.77. The company’s stock had a trading volume of 513,994 shares, compared to its average volume of 2,094,879. The firm’s fifty day moving average price is $0.87 and its two-hundred day moving average price is $0.98. Tempest Therapeutics has a 12-month low of $0.70 and a 12-month high of $6.00. The company has a market capitalization of $33.70 million, a P/E ratio of -0.50 and a beta of -1.83.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. HC Wainwright lowered their price target on shares of Tempest Therapeutics from $47.00 to $16.00 and set a “buy” rating on the stock in a report on Friday. Scotiabank dropped their price target on Tempest Therapeutics from $13.00 to $7.00 and set a “sector outperform” rating on the stock in a research report on Friday.

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.