HC Wainwright Reaffirms Buy Rating for Tempest Therapeutics (NASDAQ:TPST)

HC Wainwright restated their buy rating on shares of Tempest Therapeutics (NASDAQ:TPST) in a research note published on Wednesday morning,Benzinga reports. They currently have a $47.00 target price on the stock. HC Wainwright also issued estimates for Tempest Therapeutics’ Q4 2024 earnings at ($0.19) EPS, FY2024 earnings at ($1.27) EPS, FY2025 earnings at ($0.87) EPS, FY2026 earnings at ($1.07) EPS, FY2027 earnings at ($0.89) EPS and FY2028 earnings at ($1.04) EPS.

Tempest Therapeutics Stock Down 8.3 %

Shares of Tempest Therapeutics stock opened at $0.89 on Wednesday. Tempest Therapeutics has a 12 month low of $0.83 and a 12 month high of $6.00. The stock has a market cap of $22.43 million, a PE ratio of -0.58 and a beta of -1.78. The business has a fifty day simple moving average of $1.20 and a 200-day simple moving average of $1.95.

Hedge Funds Weigh In On Tempest Therapeutics

A number of large investors have recently made changes to their positions in the business. XTX Topco Ltd acquired a new stake in shares of Tempest Therapeutics during the third quarter worth approximately $34,000. Empower Advisory Group LLC purchased a new stake in Tempest Therapeutics in the 3rd quarter worth approximately $49,000. Dimensional Fund Advisors LP acquired a new stake in shares of Tempest Therapeutics during the 2nd quarter valued at $55,000. Fullcircle Wealth LLC purchased a new position in shares of Tempest Therapeutics during the 3rd quarter valued at $87,000. Finally, Virtu Financial LLC increased its stake in shares of Tempest Therapeutics by 69.2% in the first quarter. Virtu Financial LLC now owns 28,574 shares of the company’s stock worth $112,000 after acquiring an additional 11,689 shares during the last quarter. Institutional investors and hedge funds 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.