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

Tempest Therapeutics, Inc. (NASDAQ:TPST) was the target of a significant drop in short interest in the month of 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 volume of 1,030,000 shares, the short-interest ratio is currently 1.7 days. Currently, 4.4% of the shares of the company are sold short.

Tempest Therapeutics Stock Performance

Shares of TPST opened at $0.74 on Tuesday. The firm has a market cap of $32.34 million, a P/E ratio of -0.48 and a beta of -1.83. Tempest Therapeutics has a 52 week low of $0.70 and a 52 week high of $6.00. The firm’s 50-day simple moving average is $0.86 and its 200 day simple moving average is $0.97.

Tempest Therapeutics (NASDAQ:TPST) last posted its earnings results on Thursday, March 27th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.07). The firm had revenue of $0.49 million during the quarter. As a group, equities analysts forecast that Tempest Therapeutics will post -1.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TPST shares. Scotiabank lowered their price target on Tempest Therapeutics from $13.00 to $7.00 and set a “sector outperform” rating on the stock in a research report on Friday. HC Wainwright dropped their price target on Tempest Therapeutics from $47.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TPST. Millennium Management LLC bought a new stake in shares of Tempest Therapeutics in the fourth quarter valued at about $158,000. Jane Street Group LLC acquired a new stake in Tempest Therapeutics in the 4th quarter worth about $411,000. Northern Trust Corp boosted its holdings in Tempest Therapeutics by 233.2% in the 4th quarter. Northern Trust Corp now owns 67,815 shares of the company’s stock valued at $57,000 after purchasing an additional 47,461 shares during the period. XTX Topco Ltd grew its position in shares of Tempest Therapeutics by 570.3% during the 4th quarter. XTX Topco Ltd now owns 160,807 shares of the company’s stock worth $134,000 after purchasing an additional 136,818 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of 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 purchasing an additional 134,209 shares during the period. Institutional investors own 22.52% of the company’s stock.

Tempest Therapeutics Company Profile

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.