HC Wainwright Reiterates “Buy” Rating for Tempest Therapeutics (NASDAQ:TPST)

Tempest Therapeutics (NASDAQ:TPST)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $47.00 price target on the stock.

Tempest Therapeutics Stock Performance

Shares of NASDAQ TPST opened at $0.97 on Wednesday. The business has a fifty day simple moving average of $1.20 and a 200 day simple moving average of $1.96. The firm has a market capitalization of $24.45 million, a price-to-earnings ratio of -0.63 and a beta of -1.78. Tempest Therapeutics has a one year low of $0.86 and a one year high of $6.00. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.12.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Empower Advisory Group LLC bought a new stake in Tempest Therapeutics during the 3rd quarter worth about $49,000. Fullcircle Wealth LLC acquired a new position in Tempest Therapeutics during the 3rd quarter worth $87,000. Dimensional Fund Advisors LP acquired a new position in Tempest Therapeutics during the 2nd quarter worth $55,000. Finally, Virtu Financial LLC boosted its position in Tempest Therapeutics by 69.2% in the 1st quarter. Virtu Financial LLC now owns 28,574 shares of the company’s stock valued at $112,000 after buying an additional 11,689 shares during the last quarter. 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.