Tempest Therapeutics (NASDAQ:TPST) Stock Price Down 5.5% – Time to Sell?

Tempest Therapeutics, Inc. (NASDAQ:TPST)’s stock price traded down 5.5% during mid-day trading on Monday . The company traded as low as $0.77 and last traded at $0.79. 408,072 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 2,108,459 shares. The stock had previously closed at $0.84.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TPST shares. HC Wainwright reissued a “buy” rating and issued a $47.00 price objective on shares of Tempest Therapeutics in a research report on Wednesday, November 13th. William Blair reiterated an “outperform” rating on shares of Tempest Therapeutics in a research note on Wednesday, November 13th. Finally, Piper Sandler cut their price target 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.

Tempest Therapeutics Price Performance

The stock has a market capitalization of $35.47 million, a price-to-earnings ratio of -0.53 and a beta of -1.83. The business has a fifty day moving average of $0.89 and a 200 day moving average of $1.02.

Institutional Trading of Tempest Therapeutics

A number of large investors have recently modified their holdings of TPST. XTX Topco Ltd purchased a new position in Tempest Therapeutics in the third quarter valued at $34,000. Virtu Financial LLC acquired a new stake in shares of Tempest Therapeutics during the fourth quarter worth about $36,000. Empower Advisory Group LLC purchased a new stake in Tempest Therapeutics in the 3rd quarter valued at approximately $49,000. Northern Trust Corp boosted its holdings 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 purchasing an additional 47,461 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in Tempest Therapeutics in the 4th quarter valued at approximately $158,000. Hedge funds and other institutional investors 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.