Tempest Therapeutics, Inc. (NASDAQ:TPST) Short Interest Update

Tempest Therapeutics, Inc. (NASDAQ:TPST) was the target of a significant drop in short interest in March. As of March 15th, there was short interest totalling 1,750,000 shares, a drop of 17.8% from the February 28th total of 2,130,000 shares. Based on an average daily trading volume, of 1,030,000 shares, the days-to-cover ratio is currently 1.7 days. Approximately 4.4% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

TPST has been the topic of several analyst reports. HC Wainwright cut their price target on shares of Tempest Therapeutics from $47.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Scotiabank dropped their target price on Tempest Therapeutics from $13.00 to $7.00 and set a “sector outperform” rating on the stock in a report on Friday, March 28th.

Tempest Therapeutics Trading Up 6.3 %

NASDAQ:TPST opened at $0.76 on Thursday. The stock has a market capitalization of $34.56 million, a PE ratio of -0.50 and a beta of -2.33. Tempest Therapeutics has a 1-year low of $0.70 and a 1-year high of $5.33. The firm has a fifty day simple moving average of $0.86 and a 200 day simple moving average of $0.96.

Tempest Therapeutics (NASDAQ:TPST) last announced its quarterly earnings data on Thursday, March 27th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). The firm had revenue of $0.49 million for the quarter. On average, equities analysts predict that Tempest Therapeutics will post -1.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tempest Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd bought a new position in Tempest Therapeutics during the 3rd quarter worth $34,000. Virtu Financial LLC bought a new stake in shares of Tempest Therapeutics in the fourth quarter valued at about $36,000. Northern Trust Corp grew its stake in shares of Tempest Therapeutics by 233.2% in the fourth quarter. Northern Trust Corp now owns 67,815 shares of the company’s stock valued at $57,000 after acquiring an additional 47,461 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Tempest Therapeutics in the fourth quarter valued at about $158,000. Finally, Geode Capital Management LLC increased its position in Tempest Therapeutics by 61.0% during the fourth quarter. Geode Capital Management LLC now owns 354,276 shares of the company’s stock worth $296,000 after acquiring an additional 134,209 shares during the period. 22.52% of the stock is 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.