Empower Advisory Group LLC Purchases New Shares in Tempest Therapeutics, Inc. (NASDAQ:TPST)

Empower Advisory Group LLC acquired a new stake in shares of Tempest Therapeutics, Inc. (NASDAQ:TPST) during the 3rd quarter, HoldingsChannel reports. The fund acquired 35,000 shares of the company’s stock, valued at approximately $49,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TPST. Fullcircle Wealth LLC purchased a new position in Tempest Therapeutics during the third quarter valued at $87,000. Dimensional Fund Advisors LP purchased a new position in Tempest Therapeutics during the second quarter valued at $55,000. Finally, Virtu Financial LLC lifted its holdings in Tempest Therapeutics by 69.2% during the first quarter. Virtu Financial LLC now owns 28,574 shares of the company’s stock valued at $112,000 after purchasing an additional 11,689 shares in the last quarter. 22.52% of the stock is owned by hedge funds and other institutional investors.

Tempest Therapeutics Price Performance

Shares of TPST stock opened at $0.89 on Friday. The firm’s 50-day moving average is $1.20 and its two-hundred day moving average is $1.95. Tempest Therapeutics, Inc. has a 12 month low of $0.83 and a 12 month high of $6.00. The company has a market capitalization of $22.43 million, a PE ratio of -0.58 and a beta of -1.78.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TPST shares. HC Wainwright reissued a “buy” rating and issued a $47.00 price target on shares of Tempest Therapeutics in a research note on Wednesday. William Blair reissued an “outperform” rating on shares of Tempest Therapeutics in a research note on Wednesday. Finally, Piper Sandler decreased their price target on shares of Tempest Therapeutics from $8.00 to $5.00 and set an “overweight” rating on the stock in a research note on Wednesday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $20.00.

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.