Piper Sandler Cuts Tempest Therapeutics (NASDAQ:TPST) Price Target to $5.00

Tempest Therapeutics (NASDAQ:TPST) had its price target decreased by Piper Sandler from $8.00 to $5.00 in a research report released on Wednesday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other equities analysts also recently issued reports about the company. William Blair reiterated an “outperform” rating on shares of Tempest Therapeutics in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and set a $47.00 price objective on shares of Tempest Therapeutics in a research note on Wednesday. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $20.00.

Tempest Therapeutics Trading Down 8.3 %

TPST opened at $0.89 on Wednesday. The firm’s 50 day simple moving average is $1.20 and its two-hundred day simple moving average is $1.95. The company has a market capitalization of $22.43 million, a PE ratio of -0.58 and a beta of -1.78. Tempest Therapeutics has a 1-year low of $0.83 and a 1-year high of $6.00.

Institutional Investors Weigh In On Tempest Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC lifted its stake in Tempest Therapeutics by 69.2% in the 1st quarter. Virtu Financial LLC now owns 28,574 shares of the company’s stock worth $112,000 after purchasing an additional 11,689 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Tempest Therapeutics during the 2nd quarter valued at approximately $55,000. Fullcircle Wealth LLC purchased a new position in shares of Tempest Therapeutics in the third quarter valued at $87,000. XTX Topco Ltd bought a new stake in Tempest Therapeutics in the third quarter worth $34,000. Finally, Empower Advisory Group LLC purchased a new stake in Tempest Therapeutics during the third quarter valued at $49,000. 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.