Scotiabank Lowers Tempest Therapeutics (NASDAQ:TPST) Price Target to $7.00

Tempest Therapeutics (NASDAQ:TPST) had its target price cut by investment analysts at Scotiabank from $13.00 to $7.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock.

Separately, HC Wainwright lowered their price objective on shares of Tempest Therapeutics from $47.00 to $16.00 and set a “buy” rating on the stock in a report on Friday.

Tempest Therapeutics Trading Down 8.1 %

Shares of NASDAQ TPST opened at $0.77 on Friday. The company has a fifty day moving average price of $0.87 and a 200 day moving average price of $0.98. The firm has a market cap of $33.70 million, a PE ratio of -0.50 and a beta of -1.83. Tempest Therapeutics has a 1-year low of $0.70 and a 1-year high of $6.00.

Tempest Therapeutics (NASDAQ:TPST) last posted its quarterly earnings data on Thursday, March 27th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.07). The firm had revenue of $0.49 million during the quarter. Equities research analysts forecast that Tempest Therapeutics will post -1.39 EPS for the current year.

Institutional Trading of Tempest Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of TPST. XTX Topco Ltd acquired a new position in shares of Tempest Therapeutics during the 3rd quarter worth approximately $34,000. Geode Capital Management LLC increased its holdings in Tempest Therapeutics by 42.7% during the third quarter. Geode Capital Management LLC now owns 220,067 shares of the company’s stock worth $308,000 after buying an additional 65,826 shares during the last quarter. Virtu Financial LLC bought a new stake in Tempest Therapeutics during the fourth quarter worth $36,000. Versant Venture Management LLC acquired a new stake in Tempest Therapeutics in the fourth quarter valued at $2,927,000. Finally, Northern Trust Corp grew its position in shares of Tempest Therapeutics by 233.2% in 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. 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.