HC Wainwright Cuts Tempest Therapeutics (NASDAQ:TPST) Price Target to $16.00

Tempest Therapeutics (NASDAQ:TPST) had its price objective decreased by HC Wainwright from $47.00 to $16.00 in a research note released on Friday, MarketBeat Ratings reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Tempest Therapeutics’ Q1 2025 earnings at ($0.34) EPS.

Tempest Therapeutics Price Performance

TPST opened at $0.77 on Friday. Tempest Therapeutics has a fifty-two week low of $0.70 and a fifty-two week high of $6.00. The company has a market cap of $33.70 million, a price-to-earnings ratio of -0.50 and a beta of -1.83. The firm has a 50 day simple moving average of $0.87 and a 200 day simple moving average of $0.97.

Tempest Therapeutics (NASDAQ:TPST) last posted its quarterly earnings results on Thursday, March 27th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). The firm had revenue of $0.49 million during the quarter. As a group, analysts expect that Tempest Therapeutics will post -1.39 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 TPST. XTX Topco Ltd bought a new stake in shares of Tempest Therapeutics in the third quarter worth about $34,000. Virtu Financial LLC bought a new stake in Tempest Therapeutics during the 4th quarter worth approximately $36,000. Northern Trust Corp raised its holdings in Tempest Therapeutics by 233.2% during the 4th quarter. Northern Trust Corp now owns 67,815 shares of the company’s stock worth $57,000 after buying an additional 47,461 shares during the period. Geode Capital Management LLC lifted 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. Finally, Millennium Management LLC acquired a new position in shares of Tempest Therapeutics in the fourth quarter valued at approximately $158,000. 22.52% of the stock is currently owned by institutional investors.

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.