Tempest Therapeutics, Inc. (NASDAQ:TPST) Sees Significant Drop in Short Interest

Tempest Therapeutics, Inc. (NASDAQ:TPST) was the target of a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 312,948 shares, a drop of 48.6% from the September 30th total of 608,434 shares. Currently, 2.9% of the company’s stock are short sold. Based on an average daily volume of 361,462 shares, the days-to-cover ratio is presently 0.9 days.

Tempest Therapeutics Price Performance

Shares of Tempest Therapeutics stock opened at $0.50 on Friday. Tempest Therapeutics has a fifty-two week low of $0.49 and a fifty-two week high of $10.73. The firm has a fifty day moving average price of $0.82 and a two-hundred day moving average price of $1.51.

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

Wall Street Analysts Forecast Growth

TPST has been the topic of a number of recent research reports. Wall Street Zen upgraded Tempest Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, October 24th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tempest Therapeutics in a research report on Friday, October 9th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Tempest Therapeutics presently has a consensus rating of “Reduce”.

Institutional Investors Weigh In On Tempest Therapeutics

An institutional investor recently bought a new position in Tempest Therapeutics stock. Squarepoint Ops LLC bought a new stake in Tempest Therapeutics, Inc. (NASDAQ:TPST) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 30,900 shares of the company’s stock, valued at approximately $34,000. Squarepoint Ops LLC owned about 0.19% of Tempest Therapeutics at the end of the most recent quarter. 22.52% of the stock is currently owned by hedge funds and other institutional investors.

Tempest Therapeutics Company Profile

Tempest Therapeutics, Inc is a clinical-stage biotechnology company focused on developing small-molecule medicines for cancer. The company’s approach is designed to address both tumor cells and the immune environment surrounding them, with the goal of stimulating antitumor immune responses and improving the effectiveness of cancer treatment.

Tempest’s pipeline includes TPST-1120, an orally administered, selective antagonist of peroxisome proliferator-activated receptor alpha (PPARα). The company has evaluated TPST-1120 in clinical studies involving advanced solid tumors, including hepatocellular carcinoma, and has investigated its use in combination with other cancer therapies.