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

Tempest Therapeutics, Inc. (NASDAQ:TPST) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 125,700 shares, a drop of 92.8% from the March 15th total of 1,750,000 shares. Approximately 4.0% of the shares of the company are sold short. Based on an average daily trading volume, of 68,500 shares, the short-interest ratio is presently 1.8 days.

Analyst Upgrades and Downgrades

TPST has been the subject of a number of recent analyst reports. HC Wainwright reissued a “neutral” rating and issued a $16.00 target price on shares of Tempest Therapeutics in a research report on Thursday, April 10th. Scotiabank reissued a “sector perform” rating and set a $9.00 price objective (up from $7.00) on shares of Tempest Therapeutics in a report on Thursday, April 10th.

Institutional Investors Weigh In On Tempest Therapeutics

A number of hedge funds have recently modified their holdings of TPST. XTX Topco Ltd purchased a new position in Tempest Therapeutics during the third quarter valued at $34,000. Virtu Financial LLC bought a new position in shares of Tempest Therapeutics in the fourth quarter worth about $36,000. Northern Trust Corp lifted its position in shares of Tempest Therapeutics by 233.2% during the 4th quarter. Northern Trust Corp now owns 67,815 shares of the company’s stock valued at $57,000 after buying an additional 47,461 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Tempest Therapeutics during the 4th quarter valued at about $158,000. Finally, Geode Capital Management LLC increased its holdings in Tempest Therapeutics by 61.0% in the 4th 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 in the last quarter. Institutional investors own 22.52% of the company’s stock.

Tempest Therapeutics Stock Performance

Tempest Therapeutics stock opened at $6.96 on Tuesday. Tempest Therapeutics has a one year low of $5.35 and a one year high of $49.27. The stock has a market cap of $24.49 million, a PE ratio of -4.55 and a beta of -2.34. The stock has a fifty day moving average of $10.13 and a 200 day moving average of $11.79.

Tempest Therapeutics (NASDAQ:TPST) last announced its earnings results on Thursday, March 27th. The company reported ($4.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.12) by ($0.91). The company had revenue of $0.49 million for the quarter. As a group, sell-side analysts predict that Tempest Therapeutics will post -1.39 EPS for the current fiscal year.

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.