Research Analysts Issue Forecasts for TPST FY2024 Earnings

Tempest Therapeutics, Inc. (NASDAQ:TPST) – Research analysts at William Blair reduced their FY2024 earnings per share (EPS) estimates for Tempest Therapeutics in a report released on Wednesday, November 13th. William Blair analyst M. Phipps now forecasts that the company will earn ($1.45) per share for the year, down from their previous estimate of ($1.42). William Blair has a “Outperform” rating on the stock. The consensus estimate for Tempest Therapeutics’ current full-year earnings is ($1.38) per share. William Blair also issued estimates for Tempest Therapeutics’ Q4 2024 earnings at ($0.30) EPS, Q1 2025 earnings at ($0.31) EPS, Q2 2025 earnings at ($0.35) EPS, Q3 2025 earnings at ($0.38) EPS, Q4 2025 earnings at ($0.42) EPS, FY2025 earnings at ($1.45) EPS, FY2026 earnings at ($2.12) EPS and FY2027 earnings at ($2.26) EPS.

TPST has been the topic of several other research reports. Piper Sandler dropped their price objective on Tempest Therapeutics from $8.00 to $5.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. HC Wainwright restated a “buy” rating and issued a $47.00 price objective on shares of Tempest Therapeutics in a research note on Wednesday, November 13th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tempest Therapeutics has an average rating of “Buy” and an average price target of $20.00.

Tempest Therapeutics Stock Down 4.7 %

NASDAQ:TPST opened at $0.85 on Monday. The stock’s 50 day moving average price is $1.19 and its two-hundred day moving average price is $1.91. The firm has a market capitalization of $21.37 million, a price-to-earnings ratio of -0.57 and a beta of -1.78. Tempest Therapeutics has a 12-month low of $0.80 and a 12-month high of $6.00.

Tempest Therapeutics (NASDAQ:TPST) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.04).

Hedge Funds Weigh In On Tempest Therapeutics

A number of large investors have recently made changes to their positions in TPST. Geode Capital Management LLC increased its stake in shares of Tempest Therapeutics by 42.7% during the third quarter. Geode Capital Management LLC now owns 220,067 shares of the company’s stock worth $308,000 after purchasing an additional 65,826 shares during the period. Fullcircle Wealth LLC bought a new position in shares of Tempest Therapeutics during the third quarter worth approximately $87,000. Empower Advisory Group LLC bought a new position in shares of Tempest Therapeutics during the third quarter worth approximately $49,000. Dimensional Fund Advisors LP bought a new position in shares of Tempest Therapeutics during the second quarter worth approximately $55,000. Finally, XTX Topco Ltd bought a new position in shares of Tempest Therapeutics during the third quarter worth approximately $34,000. 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.