Tempest Therapeutics, Inc. (NASDAQ:TPST) Stock Short Interest Report for September

Tempest Therapeutics, Inc. (NASDAQ:TPST) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 608,434 shares, a growth of 73.6% from the September 15th total of 350,415 shares. Based on an average daily volume of 11,203,617 shares, the days-to-cover ratio is currently 0.1 days. Currently, 5.6% of the company’s shares are sold short.

Institutional Investors Weigh In On Tempest Therapeutics

A hedge fund recently bought a new stake in Tempest Therapeutics stock. Sabby Management LLC purchased a new stake in shares of Tempest Therapeutics, Inc. (NASDAQ:TPST) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 178,592 shares of the company’s stock, valued at approximately $513,000. Tempest Therapeutics comprises approximately 0.7% of Sabby Management LLC’s holdings, making the stock its 7th biggest position. Sabby Management LLC owned approximately 3.62% of Tempest Therapeutics as of its most recent filing with the Securities and Exchange Commission. 22.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TPST has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tempest Therapeutics in a research note on Friday, October 9th. Wall Street Zen upgraded Tempest Therapeutics to a “sell” rating in a research report on Saturday, October 10th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Tempest Therapeutics currently has an average rating of “Reduce”.

Tempest Therapeutics Stock Down 1.7%

Shares of NASDAQ:TPST traded down $0.01 during trading on Friday, reaching $0.62. 67,109 shares of the company traded hands, compared to its average volume of 947,902. The firm has a fifty day simple moving average of $0.94 and a 200 day simple moving average of $1.26. Tempest Therapeutics has a 1-year low of $0.62 and a 1-year high of $11.15. The firm has a market cap of $10.54 million, a P/E ratio of -0.15 and a beta of -1.73.

Tempest Therapeutics (NASDAQ:TPST) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.04). As a group, research analysts anticipate that Tempest Therapeutics will post -0.83 EPS for the current year.

About Tempest Therapeutics

Tempest Therapeutics, Inc is a clinical-stage biotechnology company focused on developing small-molecule medicines for cancer. The company’s research combines tumor-targeted immune activation with approaches designed to disrupt tumor metabolism, with the goal of stimulating the immune system within the tumor microenvironment while limiting effects on healthy tissue.

Tempest’s pipeline has included TPST-1120, an oral, selective antagonist of peroxisome proliferator-activated receptor alpha (PPARα).