Tempest Therapeutics, Inc. (NASDAQ:TPST – Get Rating) was the recipient of a large increase in short interest in the month of April. As of April 30th, there was short interest totalling 458,800 shares, an increase of 1,835.9% from the April 15th total of 23,700 shares. Based on an average daily volume of 288,600 shares, the days-to-cover ratio is currently 1.6 days. Approximately 14.5% of the company’s shares are sold short.
TPST traded down $0.11 during trading hours on Wednesday, reaching $2.85. 701 shares of the company’s stock traded hands, compared to its average volume of 217,281. The firm has a 50-day moving average price of $3.10 and a 200 day moving average price of $5.47. Tempest Therapeutics has a 52-week low of $2.16 and a 52-week high of $41.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.44 and a quick ratio of 3.44.
In related news, Director Thomas Woiwode bought 2,118,644 shares of the company’s stock in a transaction dated Friday, April 29th. The stock was purchased at an average price of $2.36 per share, for a total transaction of $4,999,999.84. Following the acquisition, the director now owns 2,118,644 shares in the company, valued at $4,999,999.84. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 3.30% of the stock is currently owned by insiders.
Separately, Zacks Investment Research upgraded Tempest Therapeutics from a “hold” rating to a “buy” rating and set a $3.75 price objective for the company in a report on Saturday, April 2nd.
About Tempest Therapeutics (Get Rating)
Tempest Therapeutics Inc, a clinical-stage oncology company, engages in developing small molecule therapeutics to treat cancer. The company's two clinical programs are TPST-1495, a dual antagonist of EP2 and EP4, receptors of prostaglandin E2, and is currently in a Phase 1 trial in solid tumors; and TPST-1120, a selective antagonist of peroxisome proliferator-activated receptor alpha, and is in a Phase 1 trial in solid tumors.
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