Tempest Therapeutics, Inc. (NASDAQ:TPST) Short Interest Up 18.6% in November

Tempest Therapeutics, Inc. (NASDAQ:TPST) was the recipient of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 2,490,000 shares, a growth of 18.6% from the November 15th total of 2,100,000 shares. Based on an average daily volume of 3,360,000 shares, the days-to-cover ratio is currently 0.7 days. Approximately 6.7% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

TPST has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $47.00 target price on shares of Tempest Therapeutics in a research report on Wednesday, November 13th. Piper Sandler decreased their price objective on shares of Tempest Therapeutics from $8.00 to $5.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Finally, William Blair reiterated an “outperform” rating on shares of Tempest Therapeutics in a report on Wednesday, November 13th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $20.00.

Tempest Therapeutics Stock Performance

Shares of TPST opened at $0.80 on Friday. The stock has a market capitalization of $34.91 million, a PE ratio of -0.52 and a beta of -1.78. The company’s 50-day simple moving average is $1.00 and its 200-day simple moving average is $1.57. Tempest Therapeutics has a 1 year low of $0.79 and a 1 year high of $6.00.

Tempest Therapeutics (NASDAQ:TPST) last released its earnings results on Tuesday, November 12th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.04). On average, sell-side analysts predict that Tempest Therapeutics will post -1.39 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new stake in Tempest Therapeutics during the 3rd quarter worth about $34,000. Empower Advisory Group LLC purchased a new stake in shares of Tempest Therapeutics during the third quarter worth approximately $49,000. Dimensional Fund Advisors LP acquired a new stake in Tempest Therapeutics in the second quarter valued at approximately $55,000. Fullcircle Wealth LLC purchased a new position in Tempest Therapeutics in the third quarter worth approximately $87,000. Finally, Geode Capital Management LLC grew its holdings in Tempest Therapeutics by 42.7% during the 3rd quarter. Geode Capital Management LLC now owns 220,067 shares of the company’s stock worth $308,000 after acquiring an additional 65,826 shares in the last quarter. 22.52% of the stock is currently owned by hedge funds and other institutional investors.

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.