Tempest Therapeutics, Inc. (NASDAQ:TPST) Short Interest Up 29.7% in December

Tempest Therapeutics, Inc. (NASDAQ:TPST) was the recipient of a significant growth in short interest in December. As of December 15th, there was short interest totalling 3,230,000 shares, a growth of 29.7% from the November 30th total of 2,490,000 shares. Approximately 8.2% of the company’s stock are short sold. Based on an average trading volume of 3,600,000 shares, the days-to-cover ratio is currently 0.9 days.

Tempest Therapeutics Price Performance

Shares of TPST stock traded down $0.04 during mid-day trading on Friday, hitting $0.84. 1,554,274 shares of the stock traded hands, compared to its average volume of 2,055,109. Tempest Therapeutics has a 52-week low of $0.70 and a 52-week high of $6.00. The stock has a market cap of $36.70 million, a P/E ratio of -0.55 and a beta of -1.78. The stock’s fifty day moving average is $0.93 and its two-hundred day moving average is $1.41.

Tempest Therapeutics (NASDAQ:TPST) last posted its earnings results on Tuesday, November 12th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.04). As a group, equities analysts forecast that Tempest Therapeutics will post -1.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TPST. HC Wainwright reiterated a “buy” rating and set a $47.00 target price on shares of Tempest Therapeutics in a report on Wednesday, November 13th. Piper Sandler lowered their price target on shares of Tempest Therapeutics from $8.00 to $5.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Finally, William Blair reissued an “outperform” rating on shares of Tempest Therapeutics in a report on Wednesday, November 13th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $20.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TPST. XTX Topco Ltd purchased a new stake in Tempest Therapeutics in the third quarter valued at about $34,000. Empower Advisory Group LLC acquired a new position in shares of Tempest Therapeutics during the third quarter valued at about $49,000. Dimensional Fund Advisors LP purchased a new position in shares of Tempest Therapeutics in the 2nd quarter valued at approximately $55,000. Fullcircle Wealth LLC acquired a new stake in Tempest Therapeutics in the 3rd quarter worth approximately $87,000. Finally, Geode Capital Management LLC grew its position in Tempest Therapeutics by 42.7% during the 3rd quarter. Geode Capital Management LLC now owns 220,067 shares of the company’s stock worth $308,000 after purchasing an additional 65,826 shares during the last quarter. 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.