HC Wainwright Reaffirms Neutral Rating for Tempest Therapeutics (NASDAQ:TPST)

Tempest Therapeutics (NASDAQ:TPST)‘s stock had its “neutral” rating reaffirmed by equities researchers at HC Wainwright in a note issued to investors on Thursday, MarketBeat reports. They currently have a $16.00 target price on the stock. HC Wainwright’s target price indicates a potential upside of 157.23% from the stock’s previous close.

Separately, Scotiabank reiterated a “sector perform” rating and set a $9.00 target price (up previously from $7.00) on shares of Tempest Therapeutics in a research report on Thursday.

Tempest Therapeutics Trading Up 6.1 %

Shares of NASDAQ:TPST opened at $6.22 on Thursday. Tempest Therapeutics has a 1-year low of $5.35 and a 1-year high of $50.18. The stock has a market capitalization of $282.90 million, a P/E ratio of -4.07 and a beta of -2.34. The business has a 50-day moving average price of $10.23 and a two-hundred day moving average price of $11.90.

Tempest Therapeutics (NASDAQ:TPST) last issued its quarterly earnings results on Thursday, March 27th. The company reported ($4.03) EPS for the quarter, missing the consensus estimate of ($3.12) by ($0.91). The firm had revenue of $0.49 million for the quarter. As a group, equities analysts predict that Tempest Therapeutics will post -1.39 EPS for the current year.

Institutional Trading of Tempest Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. XTX Topco Ltd bought a new position in Tempest Therapeutics during the 3rd quarter worth approximately $34,000. Virtu Financial LLC bought a new stake in Tempest Therapeutics in the fourth quarter valued at approximately $36,000. Northern Trust Corp raised its holdings in Tempest Therapeutics by 233.2% in the fourth quarter. Northern Trust Corp now owns 67,815 shares of the company’s stock worth $57,000 after purchasing an additional 47,461 shares during the period. Millennium Management LLC bought a new position in shares of Tempest Therapeutics during the fourth quarter worth $158,000. Finally, Geode Capital Management LLC grew its holdings in shares of Tempest Therapeutics by 42.7% in the 3rd quarter. Geode Capital Management LLC now owns 220,067 shares of the company’s stock valued at $308,000 after buying an additional 65,826 shares during the period. 22.52% of the stock is owned by institutional investors.

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.