HC Wainwright Has Lowered Expectations for Tempest Therapeutics (NASDAQ:TPST) Stock Price

Tempest Therapeutics (NASDAQ:TPST) had its price objective lowered by HC Wainwright from $47.00 to $16.00 in a research report report published 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 Price Performance

Tempest Therapeutics stock opened at $0.77 on Friday. The company has a market cap of $33.70 million, a price-to-earnings ratio of -0.50 and a beta of -1.83. The firm has a 50-day moving average of $0.87 and a 200-day moving average of $0.97. Tempest Therapeutics has a one year low of $0.70 and a one year high of $6.00.

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

Institutional Investors Weigh In On Tempest Therapeutics

Several large investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new position in Tempest Therapeutics during the third quarter worth approximately $34,000. Virtu Financial LLC bought a new position in Tempest Therapeutics in the 4th quarter valued at about $36,000. Northern Trust Corp lifted its position in Tempest Therapeutics by 233.2% during the fourth quarter. Northern Trust Corp now owns 67,815 shares of the company’s stock worth $57,000 after acquiring an additional 47,461 shares during the last quarter. Millennium Management LLC acquired a new stake in Tempest Therapeutics during the fourth quarter worth approximately $158,000. Finally, Geode Capital Management LLC boosted its holdings 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 acquiring an additional 65,826 shares during the period. Institutional investors and hedge funds own 22.52% of the company’s stock.

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.