Tempest Therapeutics, Inc. (NASDAQ:TPST) Shares Shorted: Short Interest Down 48.6% in October

Tempest Therapeutics, Inc. (NASDAQ:TPST) was the recipient of a large drop in short interest in October. As of October 15th, there was short interest totaling 312,948 shares, a drop of 48.6% from the September 30th total of 608,434 shares. Currently, 2.9% of the shares of the stock are short sold. Based on an average trading volume of 361,462 shares, the days-to-cover ratio is presently 0.9 days.

Tempest Therapeutics Price Performance

Shares of NASDAQ TPST traded down $0.01 during mid-day trading on Monday, hitting $0.48. The company’s stock had a trading volume of 91,518 shares, compared to its average volume of 905,181. The stock has a market cap of $9.68 million, a price-to-earnings ratio of -0.11 and a beta of -1.73. Tempest Therapeutics has a one year low of $0.47 and a one year high of $10.45. The company’s fifty day simple moving average is $0.82 and its 200-day simple moving average is $1.51.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tempest Therapeutics in a research report on Friday, October 9th. Wall Street Zen raised shares of Tempest Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, October 24th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Institutional Trading of Tempest Therapeutics

An institutional investor recently bought a new stake in Tempest Therapeutics stock. Squarepoint Ops LLC acquired a new stake in Tempest Therapeutics, Inc. (NASDAQ:TPST) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 30,900 shares of the company’s stock, valued at approximately $34,000. Squarepoint Ops LLC owned 0.19% of Tempest Therapeutics as of its most recent SEC filing. 22.52% of the stock is currently owned by hedge funds and other institutional investors.

About Tempest Therapeutics

Tempest Therapeutics, Inc is a clinical-stage biotechnology company focused on developing small-molecule medicines for cancer. The company’s approach is designed to address both tumor cells and the immune environment surrounding them, with the goal of stimulating antitumor immune responses and improving the effectiveness of cancer treatment.

Tempest’s pipeline includes TPST-1120, an orally administered, selective antagonist of peroxisome proliferator-activated receptor alpha (PPARα). The company has evaluated TPST-1120 in clinical studies involving advanced solid tumors, including hepatocellular carcinoma, and has investigated its use in combination with other cancer therapies.