Tempest Therapeutics (NASDAQ:TPST) Trading Up 4.1% – What’s Next?

Tempest Therapeutics, Inc. (NASDAQ:TPST)’s share price shot up 4.1% on Monday . The stock traded as high as $8.75 and last traded at $8.08. 283,561 shares changed hands during trading, an increase of 271% from the average session volume of 76,371 shares. The stock had previously closed at $7.76.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TPST. Scotiabank restated a “sector perform” rating and set a $9.00 target price (up from $7.00) on shares of Tempest Therapeutics in a report on Thursday, April 10th. HC Wainwright restated a “neutral” rating and set a $16.00 price target on shares of Tempest Therapeutics in a research note on Thursday, April 10th.

Tempest Therapeutics Stock Up 4.1%

The stock has a fifty day moving average of $6.94 and a 200-day moving average of $8.71. The stock has a market cap of $29.73 million, a PE ratio of -0.45 and a beta of -1.95.

Tempest Therapeutics (NASDAQ:TPST) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($3.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.71) by $0.55. Equities research analysts forecast that Tempest Therapeutics, Inc. will post -1.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tempest Therapeutics

A number of institutional investors have recently added to or reduced their stakes in TPST. Virtu Financial LLC purchased a new stake in Tempest Therapeutics in the 4th quarter valued at approximately $36,000. Geode Capital Management LLC lifted its position in shares of Tempest Therapeutics by 61.0% during the 4th quarter. Geode Capital Management LLC now owns 354,276 shares of the company’s stock valued at $296,000 after acquiring an additional 134,209 shares during the period. XTX Topco Ltd lifted its position in shares of Tempest Therapeutics by 570.3% during the 4th quarter. XTX Topco Ltd now owns 160,807 shares of the company’s stock valued at $134,000 after acquiring an additional 136,818 shares during the period. Northern Trust Corp lifted its position in shares of Tempest Therapeutics by 233.2% during the 4th quarter. Northern Trust Corp now owns 67,815 shares of the company’s stock valued at $57,000 after acquiring an additional 47,461 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of Tempest Therapeutics during the 4th quarter valued at approximately $411,000. Hedge funds and other institutional investors 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.