HC Wainwright Reiterates “Neutral” Rating for Tempest Therapeutics (NASDAQ:TPST)

Tempest Therapeutics (NASDAQ:TPST)‘s stock had its “neutral” rating reiterated by HC Wainwright in a research report issued to clients and investors on Thursday, Marketbeat.com reports. They currently have a $16.00 price objective on the stock. HC Wainwright’s price target points to a potential upside of 157.23% from the company’s previous close.

Separately, Scotiabank reiterated a “sector perform” rating and set a $9.00 target price (up previously from $7.00) on shares of Tempest Therapeutics in a report on Thursday.

Tempest Therapeutics Stock Performance

NASDAQ TPST opened at $6.22 on Thursday. The stock has a market cap of $282.90 million, a price-to-earnings ratio of -4.07 and a beta of -2.34. The business has a 50 day simple moving average of $10.23 and a 200 day simple moving average of $11.90. Tempest Therapeutics has a 52-week low of $5.35 and a 52-week high of $50.18.

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

Hedge Funds Weigh In On Tempest Therapeutics

Several hedge funds have recently made changes to their positions in the business. XTX Topco Ltd bought a new stake in shares of Tempest Therapeutics in the third quarter worth $34,000. Virtu Financial LLC bought a new position in Tempest Therapeutics in the fourth quarter valued at $36,000. Northern Trust Corp increased its stake in 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 buying an additional 47,461 shares during the last quarter. Millennium Management LLC bought a new stake in Tempest Therapeutics during the 4th quarter worth about $158,000. Finally, Geode Capital Management LLC lifted its position in Tempest Therapeutics by 61.0% during the 4th quarter. Geode Capital Management LLC now owns 354,276 shares of the company’s stock worth $296,000 after buying an additional 134,209 shares in the last quarter. 22.52% of the stock is owned by institutional investors.

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.