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

Tempest Therapeutics, Inc. (NASDAQ:TPST) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 2,600,000 shares, a drop of 16.9% from the January 15th total of 3,130,000 shares. Based on an average daily trading volume, of 1,560,000 shares, the days-to-cover ratio is currently 1.7 days. Currently, 6.6% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. 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 research note on Wednesday, November 13th. William Blair reiterated an “outperform” rating on shares of Tempest Therapeutics in a research report on Wednesday, November 13th. Finally, HC Wainwright reiterated a “buy” rating and issued a $47.00 price target on shares of Tempest Therapeutics in a research report on Wednesday, November 13th.

Institutional Investors Weigh In On Tempest Therapeutics

Institutional investors have recently bought and sold shares of the business. XTX Topco Ltd acquired a new stake in Tempest Therapeutics during the 3rd quarter worth about $34,000. Virtu Financial LLC acquired a new stake in Tempest Therapeutics during the 4th quarter worth about $36,000. Empower Advisory Group LLC acquired a new stake in Tempest Therapeutics during the 3rd quarter worth about $49,000. Northern Trust Corp boosted its position 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 acquiring an additional 47,461 shares during the period. Finally, Fullcircle Wealth LLC acquired a new stake in Tempest Therapeutics during the 3rd quarter worth about $87,000. 22.52% of the stock is currently owned by institutional investors and hedge funds.

Tempest Therapeutics Stock Down 0.2 %

NASDAQ:TPST opened at $0.93 on Monday. Tempest Therapeutics has a 1-year low of $0.70 and a 1-year high of $6.00. The firm has a market capitalization of $40.59 million, a price-to-earnings ratio of -0.61 and a beta of -1.69. The stock has a fifty day simple moving average of $0.89 and a 200 day simple moving average of $1.08.

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.