Tempest Therapeutics (NASDAQ:TPST) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Tempest Therapeutics (NASDAQ:TPSTGet Rating) in a research report sent to investors on Friday morning, TipRanks reports. The firm currently has a $35.00 price target on the stock.

A number of other analysts have also recently commented on TPST. Piper Sandler lowered their price target on Tempest Therapeutics from $20.00 to $10.00 in a research note on Friday, May 13th. Zacks Investment Research raised Tempest Therapeutics from a hold rating to a buy rating and set a $4.50 price target for the company in a research note on Friday.

Tempest Therapeutics stock traded down $1.03 during trading hours on Friday, reaching $2.83. 369,039 shares of the company’s stock traded hands, compared to its average volume of 225,385. The company has a debt-to-equity ratio of 0.52, a quick ratio of 3.01 and a current ratio of 3.01. Tempest Therapeutics has a fifty-two week low of $2.16 and a fifty-two week high of $41.00. The firm’s 50 day moving average is $3.28 and its 200-day moving average is $4.67.

In related news, Director Thomas Woiwode acquired 2,118,644 shares of the business’s stock in a transaction dated Friday, April 29th. The stock was bought at an average price of $2.36 per share, with a total value of $4,999,999.84. Following the acquisition, the director now owns 2,118,644 shares in the company, valued at approximately $4,999,999.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.30% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley lifted its holdings in Tempest Therapeutics by 174.0% during the 3rd quarter. Morgan Stanley now owns 1,989 shares of the company’s stock valued at $29,000 after purchasing an additional 1,263 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Tempest Therapeutics by 26.9% during the 3rd quarter. Renaissance Technologies LLC now owns 34,104 shares of the company’s stock valued at $493,000 after purchasing an additional 7,237 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Tempest Therapeutics by 47.4% during the 4th quarter. Geode Capital Management LLC now owns 34,346 shares of the company’s stock valued at $181,000 after purchasing an additional 11,045 shares during the last quarter. Franklin Resources Inc. acquired a new stake in Tempest Therapeutics during the 3rd quarter valued at $221,000. Finally, Millennium Management LLC acquired a new stake in Tempest Therapeutics during the 3rd quarter valued at $421,000. 34.92% of the stock is owned by institutional investors.

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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