Tempest Therapeutics (NASDAQ:TPST) Rating Reiterated by HC Wainwright

Tempest Therapeutics (NASDAQ:TPST)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research note issued on Thursday, Benzinga reports. They presently have a $47.00 price target on the stock.

Separately, Piper Sandler restated an “overweight” rating and set a $8.00 target price on shares of Tempest Therapeutics in a research report on Friday, June 21st. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Tempest Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $20.75.

Tempest Therapeutics Stock Performance

TPST stock traded up $0.43 during midday trading on Thursday, hitting $1.62. 93,849,695 shares of the company traded hands, compared to its average volume of 1,588,964. The stock has a market capitalization of $40.82 million, a price-to-earnings ratio of -0.97 and a beta of -1.73. Tempest Therapeutics has a twelve month low of $0.17 and a twelve month high of $9.77. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.12. The business has a 50 day simple moving average of $2.09 and a 200-day simple moving average of $3.11.

Tempest Therapeutics (NASDAQ:TPST) last released its earnings results on Thursday, August 8th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.05. As a group, equities research analysts predict that Tempest Therapeutics will post -1.57 earnings per share for the current year.

Insider Buying and Selling at Tempest Therapeutics

In other Tempest Therapeutics news, CEO Stephen R. Brady acquired 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was acquired at an average price of $2.11 per share, for a total transaction of $73,850.00. Following the acquisition, the chief executive officer now directly owns 46,376 shares in the company, valued at $97,853.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Tempest Therapeutics news, CEO Stephen R. Brady bought 35,000 shares of the stock in a transaction on Wednesday, July 3rd. The stock was acquired at an average cost of $2.11 per share, for a total transaction of $73,850.00. Following the completion of the acquisition, the chief executive officer now owns 46,376 shares in the company, valued at approximately $97,853.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Versant Venture Capital Vi, L. sold 387,999 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $1.10, for a total transaction of $426,798.90. Following the transaction, the insider now directly owns 209,941 shares in the company, valued at approximately $230,935.10. The disclosure for this sale can be found here. Insiders bought a total of 47,172 shares of company stock worth $100,001 over the last three months. Corporate insiders own 3.27% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP purchased a new position in Tempest Therapeutics in the second quarter worth $55,000. Virtu Financial LLC increased its position in shares of Tempest Therapeutics by 69.2% during the first quarter. Virtu Financial LLC now owns 28,574 shares of the company’s stock valued at $112,000 after buying an additional 11,689 shares during the period. Finally, MayTech Global Investments LLC purchased a new position in shares of Tempest Therapeutics during the 4th quarter worth approximately $44,000. 22.52% of the stock is currently owned by hedge funds and other institutional investors.

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.