Tempest Therapeutics (NASDAQ:TPST) Issues Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Tempest Therapeutics (NASDAQ:TPST) posted its quarterly earnings data on Thursday. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07), Zacks reports. The business had revenue of $0.49 million for the quarter.

Tempest Therapeutics Stock Down 8.1 %

Shares of Tempest Therapeutics stock traded down $0.07 during mid-day trading on Friday, hitting $0.77. The stock had a trading volume of 508,772 shares, compared to its average volume of 2,094,839. The firm has a market cap of $33.70 million, a P/E ratio of -0.50 and a beta of -1.83. The firm has a 50-day moving average of $0.87 and a two-hundred day moving average of $0.98. Tempest Therapeutics has a 12-month low of $0.70 and a 12-month high of $6.00.

Analyst Upgrades and Downgrades

TPST has been the topic of a number of recent research reports. HC Wainwright lowered their price target on shares of Tempest Therapeutics from $47.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday. Scotiabank cut their price target on Tempest Therapeutics from $13.00 to $7.00 and set a “sector outperform” rating for the company in a report on Friday.

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.