Tempest Therapeutics (NASDAQ:TPST) Issues Earnings Results, Misses Estimates By $0.07 EPS

Tempest Therapeutics (NASDAQ:TPST) posted its quarterly earnings results on Thursday. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.07), Zacks reports. The company had revenue of $0.49 million during the quarter.

Tempest Therapeutics Stock Down 8.1 %

TPST stock traded down $0.07 during trading hours on Friday, hitting $0.77. The company’s stock had a trading volume of 513,055 shares, compared to its average volume of 2,094,850. The stock has a 50 day moving average price of $0.87 and a two-hundred day moving average price of $0.98. Tempest Therapeutics has a 12 month low of $0.70 and a 12 month high of $6.00. The company has a market capitalization of $33.70 million, a PE ratio of -0.50 and a beta of -1.83.

Wall Street Analysts Forecast Growth

TPST has been the subject of a number of research analyst reports. HC Wainwright reduced their price target on shares of Tempest Therapeutics from $47.00 to $16.00 and set a “buy” rating for the company in a research report on Friday. Scotiabank dropped their price target on shares of Tempest Therapeutics from $13.00 to $7.00 and set a “sector outperform” rating on the stock in a research note on Friday.

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.