Equities research analysts at Jefferies Financial Group began coverage on shares of Tempest Therapeutics (NASDAQ:TPST – Get Free Report) in a research note issued on Thursday, Briefing.com reports. The brokerage set a “buy” rating and a $15.00 price target on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 258.00% from the stock’s current price.
Separately, HC Wainwright upped their price target on Tempest Therapeutics from $35.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, October 11th.
Tempest Therapeutics Stock Up 1.5 %
Tempest Therapeutics (NASDAQ:TPST – Get Free Report) last posted its quarterly earnings results on Wednesday, November 8th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.07. On average, sell-side analysts forecast that Tempest Therapeutics will post -1.93 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Sectoral Asset Management Inc. bought a new stake in shares of Tempest Therapeutics during the 2nd quarter worth about $279,000. Renaissance Technologies LLC boosted its stake in shares of Tempest Therapeutics by 290.2% during the 2nd quarter. Renaissance Technologies LLC now owns 103,401 shares of the company’s stock worth $131,000 after acquiring an additional 76,901 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Tempest Therapeutics by 52.9% during the 2nd quarter. Geode Capital Management LLC now owns 102,244 shares of the company’s stock worth $130,000 after acquiring an additional 35,372 shares in the last quarter. Worth Venture Partners LLC bought a new stake in shares of Tempest Therapeutics during the 2nd quarter worth about $129,000. Finally, Millennium Management LLC bought a new stake in shares of Tempest Therapeutics during the 2nd quarter worth about $29,000. Hedge funds and other institutional investors own 28.73% 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 solid tumors; 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.
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