Tempest Therapeutics’ (TPST) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Tempest Therapeutics (NASDAQ:TPST) in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a $47.00 price target on the stock.

Separately, Piper Sandler restated an overweight rating and issued a $8.00 price objective on shares of Tempest Therapeutics in a report on Friday, June 21st. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of Buy and an average price target of $20.75.

Tempest Therapeutics Stock Performance

Shares of TPST opened at $1.03 on Thursday. The firm has a fifty day moving average of $1.33 and a 200-day moving average of $2.40. The company has a market cap of $22.77 million, a price-to-earnings ratio of -0.60 and a beta of -1.86. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.17 and a current ratio of 2.17. Tempest Therapeutics has a 1 year low of $0.92 and a 1 year high of $9.00.

Tempest Therapeutics (NASDAQ:TPST) last posted its earnings results on Thursday, August 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.05. As a group, equities analysts anticipate that Tempest Therapeutics will post -1.43 earnings per share for the current year.

Insider Activity at Tempest Therapeutics

In related news, major shareholder Versant Venture Capital Vi, L. sold 387,999 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $1.10, for a total transaction of $426,798.90. Following the transaction, the insider now directly owns 209,941 shares of the company’s stock, valued at approximately $230,935.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Tempest Therapeutics stock. Virtu Financial LLC boosted its holdings in Tempest Therapeutics, Inc. (NASDAQ:TPST) by 69.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,574 shares of the company’s stock after buying an additional 11,689 shares during the period. Virtu Financial LLC owned approximately 0.13% of Tempest Therapeutics worth $112,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.