Research Analysts Issue Forecasts for TPST FY2024 Earnings

Tempest Therapeutics, Inc. (NASDAQ:TPST) – Stock analysts at William Blair reduced their FY2024 earnings per share estimates for Tempest Therapeutics in a report issued on Wednesday, November 13th. William Blair analyst M. Phipps now expects that the company will post earnings of ($1.45) per share for the year, down from their prior estimate of ($1.42). William Blair has a “Outperform” rating on the stock. The consensus estimate for Tempest Therapeutics’ current full-year earnings is ($1.38) per share. William Blair also issued estimates for Tempest Therapeutics’ Q4 2024 earnings at ($0.30) EPS, Q1 2025 earnings at ($0.31) EPS, Q2 2025 earnings at ($0.35) EPS, Q3 2025 earnings at ($0.38) EPS, Q4 2025 earnings at ($0.42) EPS, FY2025 earnings at ($1.45) EPS, FY2026 earnings at ($2.12) EPS and FY2027 earnings at ($2.26) EPS.

Other research analysts have also recently issued reports about the company. HC Wainwright reissued a “buy” rating and issued a $47.00 target price on shares of Tempest Therapeutics in a research note on Wednesday, November 13th. Piper Sandler decreased their target price on Tempest Therapeutics from $8.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tempest Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $20.00.

Tempest Therapeutics Trading Down 4.7 %

NASDAQ:TPST opened at $0.85 on Monday. Tempest Therapeutics has a 1 year low of $0.80 and a 1 year high of $6.00. The stock has a market cap of $21.37 million, a price-to-earnings ratio of -0.57 and a beta of -1.78. The stock has a 50-day moving average price of $1.19 and a two-hundred day moving average price of $1.91.

Tempest Therapeutics (NASDAQ:TPST) last posted 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).

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of 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 period. XTX Topco Ltd bought a new stake in Tempest Therapeutics during the third quarter worth about $34,000. Empower Advisory Group LLC bought a new stake in Tempest Therapeutics during the third quarter worth about $49,000. Fullcircle Wealth LLC bought a new stake in Tempest Therapeutics during the third quarter worth about $87,000. Finally, Dimensional Fund Advisors LP bought a new stake in Tempest Therapeutics during the second quarter worth about $55,000. 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.