Tempest Therapeutics (NASDAQ:TPST) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Tempest Therapeutics (NASDAQ:TPST) in a report issued on Thursday, Benzinga reports. The brokerage currently has a $47.00 target price on the stock.

Separately, Piper Sandler reissued an overweight rating and issued a $8.00 target price on shares of Tempest Therapeutics in a research note on Friday, June 21st. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Tempest Therapeutics currently has a consensus rating of Buy and an average target price of $20.75.

Tempest Therapeutics Trading Down 7.1 %

Shares of Tempest Therapeutics stock opened at $1.44 on Thursday. The firm has a 50-day simple moving average of $2.02 and a two-hundred day simple moving average of $3.07. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.17 and a current ratio of 2.17. Tempest Therapeutics has a fifty-two week low of $0.17 and a fifty-two week high of $9.77. The company has a market cap of $36.30 million, a P/E ratio of -0.84 and a beta of -1.73.

Tempest Therapeutics (NASDAQ:TPST) last posted its quarterly earnings data 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 analysts predict that Tempest Therapeutics will post -1.56 earnings per share for the current fiscal year.

Insider Transactions at Tempest Therapeutics

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP purchased a new position in shares of Tempest Therapeutics during the second quarter worth about $55,000. Virtu Financial LLC lifted its position in Tempest Therapeutics by 69.2% during the 1st quarter. Virtu Financial LLC now owns 28,574 shares of the company’s stock worth $112,000 after acquiring an additional 11,689 shares during the period. Finally, MayTech Global Investments LLC purchased a new position in shares of Tempest Therapeutics in the 4th quarter valued at approximately $44,000. 22.52% of the stock is owned by hedge funds and other 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.