Tempest Therapeutics (NASDAQ:TPST) Price Target Cut to $5.00 by Analysts at Piper Sandler

Tempest Therapeutics (NASDAQ:TPST) had its price target cut by Piper Sandler from $8.00 to $5.00 in a research note released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts also recently commented on the stock. William Blair reaffirmed an “outperform” rating on shares of Tempest Therapeutics in a report on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $47.00 price target on shares of Tempest Therapeutics in a research report on Wednesday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $20.00.

Tempest Therapeutics Trading Down 10.5 %

Shares of TPST stock opened at $0.97 on Wednesday. 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 company has a 50 day moving average of $1.20 and a 200-day moving average of $1.96. Tempest Therapeutics has a 12-month low of $0.86 and a 12-month high of $6.00. The firm has a market cap of $24.37 million, a P/E ratio of -0.63 and a beta of -1.78.

Hedge Funds Weigh In On Tempest Therapeutics

A number of institutional investors have recently added to or reduced their stakes in TPST. Dimensional Fund Advisors LP bought a new position in shares of Tempest Therapeutics in the second quarter worth approximately $55,000. Virtu Financial LLC grew its position in Tempest Therapeutics by 69.2% in the first quarter. Virtu Financial LLC now owns 28,574 shares of the company’s stock worth $112,000 after acquiring an additional 11,689 shares in the last quarter. Empower Advisory Group LLC bought a new position in Tempest Therapeutics in the third quarter valued at $49,000. Finally, Fullcircle Wealth LLC bought a new position in shares of Tempest Therapeutics during the 3rd quarter valued at about $87,000. 22.52% of the stock is currently owned by 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.