HC Wainwright Issues Pessimistic Forecast for Tempest Therapeutics (NASDAQ:TPST) Stock Price

Tempest Therapeutics (NASDAQ:TPST) had its price target decreased by research analysts at HC Wainwright from $47.00 to $16.00 in a report issued on Friday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the stock. HC Wainwright also issued estimates for Tempest Therapeutics’ Q1 2025 earnings at ($0.34) EPS.

Tempest Therapeutics Stock Down 8.1 %

NASDAQ:TPST opened at $0.77 on Friday. The company has a market cap of $33.70 million, a PE ratio of -0.50 and a beta of -1.83. The business’s 50 day moving average is $0.87 and its two-hundred day moving average is $0.98. Tempest Therapeutics has a 52 week low of $0.70 and a 52 week high of $6.00.

Tempest Therapeutics (NASDAQ:TPST) last released its quarterly earnings data on Thursday, March 27th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.07). The business had revenue of $0.49 million for the quarter. As a group, sell-side analysts expect that Tempest Therapeutics will post -1.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Tempest Therapeutics

Several institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new position in Tempest Therapeutics during the 3rd quarter valued at approximately $34,000. Virtu Financial LLC bought a new stake in Tempest Therapeutics in the fourth quarter valued at $36,000. Northern Trust Corp boosted its holdings in shares of Tempest Therapeutics by 233.2% during the fourth 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. Millennium Management LLC bought a new position in shares of Tempest Therapeutics during the fourth quarter worth about $158,000. Finally, Geode Capital Management LLC increased its holdings 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 worth $296,000 after acquiring an additional 134,209 shares during the period. 22.52% of the stock is owned by 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.