Tempest Therapeutics (NASDAQ:TPST) Stock Price Down 6.8%

Tempest Therapeutics, Inc. (NASDAQ:TPST) shares were down 6.8% during trading on Friday . The company traded as low as $3.58 and last traded at $3.59. Approximately 462,763 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 1,007,446 shares. The stock had previously closed at $3.85.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TPST shares. William Blair reissued an “outperform” rating on shares of Tempest Therapeutics in a research note on Wednesday, March 20th. HC Wainwright reissued a “buy” rating and issued a $47.00 price objective on shares of Tempest Therapeutics in a research note on Wednesday, March 20th. Jefferies Financial Group started coverage on Tempest Therapeutics in a report on Thursday, February 8th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, Scotiabank started coverage on Tempest Therapeutics in a report on Thursday, March 14th. They issued a “sector outperform” rating and a $13.00 target price on the stock.

Tempest Therapeutics Stock Performance

The company has a quick ratio of 4.29, a current ratio of 4.29 and a debt-to-equity ratio of 0.23. The stock has a fifty day moving average of $3.86 and a 200-day moving average of $3.72.

Tempest Therapeutics (NASDAQ:TPST) last issued its quarterly earnings results on Tuesday, March 19th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.04. As a group, research analysts expect that Tempest Therapeutics, Inc. will post -1.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TPST. Worth Venture Partners LLC purchased a new position in shares of Tempest Therapeutics during the second quarter valued at $129,000. Renaissance Technologies LLC grew its holdings in shares of Tempest Therapeutics by 290.2% during the second quarter. Renaissance Technologies LLC now owns 103,401 shares of the company’s stock valued at $131,000 after buying an additional 76,901 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Tempest Therapeutics by 52.9% during the second quarter. Geode Capital Management LLC now owns 102,244 shares of the company’s stock valued at $130,000 after buying an additional 35,372 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Tempest Therapeutics by 147.9% during the fourth quarter. Northern Trust Corp now owns 33,598 shares of the company’s stock valued at $148,000 after buying an additional 20,045 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in Tempest Therapeutics in the second quarter valued at about $29,000. Hedge funds and other 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 solid tumors; 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.