Tempest Therapeutics, Inc. (NASDAQ:TPST) Short Interest Update

Tempest Therapeutics, Inc. (NASDAQ:TPST) saw a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 2,600,000 shares, a drop of 16.9% from the January 15th total of 3,130,000 shares. Based on an average daily trading volume, of 1,560,000 shares, the days-to-cover ratio is presently 1.7 days. Approximately 6.6% of the company’s shares are sold short.

Institutional Investors Weigh In On Tempest Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new stake in Tempest Therapeutics during the 3rd quarter worth $34,000. Empower Advisory Group LLC acquired a new stake in shares of Tempest Therapeutics during the third quarter worth about $49,000. Virtu Financial LLC acquired a new stake in shares of Tempest Therapeutics during the fourth quarter worth about $36,000. Northern Trust Corp lifted its holdings in shares of 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 purchasing an additional 47,461 shares during the last quarter. Finally, Fullcircle Wealth LLC acquired a new stake in shares of Tempest Therapeutics in the 3rd quarter valued at about $87,000. Hedge funds and other institutional investors own 22.52% of the company’s stock.

Tempest Therapeutics Price Performance

Shares of NASDAQ TPST opened at $0.93 on Friday. The business has a 50-day moving average of $0.89 and a two-hundred day moving average of $1.09. The company has a market capitalization of $40.59 million, a price-to-earnings ratio of -0.61 and a beta of -1.69. Tempest Therapeutics has a 1 year low of $0.70 and a 1 year high of $6.00.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TPST. Piper Sandler reduced their price objective on Tempest Therapeutics from $8.00 to $5.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and issued a $47.00 price objective on shares of Tempest Therapeutics in a research note on Wednesday, November 13th. Finally, William Blair restated an “outperform” rating on shares of Tempest Therapeutics in a research note on Wednesday, November 13th.

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.