HC Wainwright Has Lowered Expectations for Tempest Therapeutics (NASDAQ:TPST) Stock Price

Tempest Therapeutics (NASDAQ:TPST) had its price objective cut by stock analysts at HC Wainwright from $47.00 to $16.00 in a note issued to investors on Friday, MarketBeat.com reports. The firm presently has a “buy” rating on the stock. HC Wainwright also issued estimates for Tempest Therapeutics’ Q1 2025 earnings at ($0.34) EPS.

Tempest Therapeutics Stock Down 8.1 %

Shares of 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’s fifty day moving average is $0.87 and its two-hundred day moving average is $0.98. The firm has a market cap of $33.70 million, a PE ratio of -0.50 and a beta of -1.83.

Tempest Therapeutics (NASDAQ:TPST) last announced 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 business had revenue of $0.49 million for the quarter. As a group, equities research analysts anticipate that Tempest Therapeutics will post -1.39 earnings per share for the current year.

Institutional Trading of Tempest Therapeutics

Hedge funds have recently made changes to their positions in the company. Versant Venture Management LLC purchased a new stake in Tempest Therapeutics during the 4th quarter worth $2,927,000. Jane Street Group LLC purchased a new stake in shares of Tempest Therapeutics during the fourth quarter worth about $411,000. Millennium Management LLC acquired a new position in shares of Tempest Therapeutics in the fourth quarter worth about $158,000. XTX Topco Ltd boosted its holdings in Tempest Therapeutics by 570.3% in the fourth quarter. XTX Topco Ltd now owns 160,807 shares of the company’s stock valued at $134,000 after purchasing an additional 136,818 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Tempest Therapeutics by 61.0% during the 4th quarter. Geode Capital Management LLC now owns 354,276 shares of the company’s stock valued at $296,000 after purchasing an additional 134,209 shares in the last quarter. Hedge funds and other institutional investors own 22.52% of the company’s stock.

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.