Tempest Therapeutics, Inc. (NASDAQ:TPST) Shares Shorted: Short Interest Up 73.6% in September

Tempest Therapeutics, Inc. (NASDAQ:TPST) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 608,434 shares, a growth of 73.6% from the September 15th total of 350,415 shares. Approximately 5.6% of the shares of the stock are sold short. Based on an average trading volume of 11,203,617 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Tempest Therapeutics stock. Sabby Management LLC bought a new stake in Tempest Therapeutics, Inc. (NASDAQ:TPST) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 178,592 shares of the company’s stock, valued at approximately $513,000. Tempest Therapeutics comprises about 0.7% of Sabby Management LLC’s portfolio, making the stock its 7th biggest position. Sabby Management LLC owned 3.62% of Tempest Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 22.52% of the company’s stock.

Tempest Therapeutics Price Performance

TPST stock traded up $0.01 during midday trading on Thursday, reaching $0.65. The company had a trading volume of 81,732 shares, compared to its average volume of 952,149. Tempest Therapeutics has a 1 year low of $0.62 and a 1 year high of $11.98. The company has a market capitalization of $10.91 million, a P/E ratio of -0.15 and a beta of -1.73. The firm has a 50-day moving average price of $0.94 and a 200-day moving average price of $1.27.

Tempest Therapeutics (NASDAQ:TPST) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). On average, equities analysts predict that Tempest Therapeutics will post -0.83 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tempest Therapeutics in a report on Friday, October 9th. Wall Street Zen raised Tempest Therapeutics to a “sell” rating in a report on Saturday, October 10th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Tempest Therapeutics Company Profile

Tempest Therapeutics, Inc is a clinical-stage biotechnology company focused on developing small-molecule medicines for cancer. The company’s research combines tumor-targeted immune activation with approaches designed to disrupt tumor metabolism, with the goal of stimulating the immune system within the tumor microenvironment while limiting effects on healthy tissue.

Tempest’s pipeline has included TPST-1120, an oral, selective antagonist of peroxisome proliferator-activated receptor alpha (PPARα).