Tempest Therapeutics’ (TPST) “Sector Perform” Rating Reiterated at Scotiabank

Scotiabank restated their sector perform rating on shares of Tempest Therapeutics (NASDAQ:TPST) in a research report report published on Thursday, Marketbeat Ratings reports. The brokerage currently has a $9.00 target price on the stock, up from their prior target price of $7.00.

Separately, HC Wainwright lowered their price objective on Tempest Therapeutics from $611.00 to $208.00 and set a “buy” rating for the company in a research report on Friday, March 28th.

Tempest Therapeutics Stock Up 6.1 %

NASDAQ:TPST opened at $6.22 on Thursday. Tempest Therapeutics has a 52 week low of $5.35 and a 52 week high of $50.18. The company has a fifty day simple moving average of $10.23 and a two-hundred day simple moving average of $11.90. The company has a market cap of $21.89 million, a price-to-earnings ratio of -4.07 and a beta of -2.34.

Tempest Therapeutics (NASDAQ:TPST) last released its earnings results on Thursday, March 27th. The company reported ($4.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.12) by ($0.91). The company had revenue of $0.49 million during the quarter. On average, analysts expect that Tempest Therapeutics will post -1.39 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC acquired a new stake in shares of Tempest Therapeutics during the 4th quarter worth about $158,000. Jane Street Group LLC acquired a new stake in Tempest Therapeutics during the fourth quarter worth approximately $411,000. 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 worth $57,000 after buying an additional 47,461 shares during the last quarter. XTX Topco Ltd boosted its holdings in shares of Tempest Therapeutics by 570.3% in the 4th quarter. XTX Topco Ltd now owns 160,807 shares of the company’s stock valued at $134,000 after buying an additional 136,818 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Tempest Therapeutics by 61.0% in the 4th quarter. Geode Capital Management LLC now owns 354,276 shares of the company’s stock valued at $296,000 after buying an additional 134,209 shares during the last quarter. 22.52% of the stock is owned by institutional investors and hedge funds.

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.