Tempest Therapeutics, Inc. (NASDAQ:TPST) Short Interest Up 26.5% in March

Tempest Therapeutics, Inc. (NASDAQ:TPST - Get Free Report) saw a significant increase in short interest in March. As of March 31st, there was short interest totalling 969,700 shares, an increase of 26.5% from the March 15th total of 766,800 shares. Approximately 6.1% of the company's shares are short sold. Based on an average trading volume of 1,030,000 shares, the short-interest ratio is currently 0.9 days.

Tempest Therapeutics Trading Down 6.8 %

Shares of NASDAQ:TPST traded down $0.26 during trading hours on Friday, hitting $3.59. 471,057 shares of the company's stock traded hands, compared to its average volume of 1,789,367. Tempest Therapeutics has a 1 year low of $0.17 and a 1 year high of $9.77. The business has a fifty day moving average price of $3.86 and a 200-day moving average price of $3.72. The firm has a market capitalization of $79.66 million, a P/E ratio of -1.88 and a beta of -1.76. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.29 and a quick ratio of 4.29.

Tempest Therapeutics (NASDAQ:TPST - Get Free Report) last announced its quarterly earnings data on Tuesday, March 19th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.04. Equities analysts expect that Tempest Therapeutics will post -1.58 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. MayTech Global Investments LLC bought a new position in Tempest Therapeutics in the fourth quarter worth approximately $44,000. Susquehanna International Group LLP purchased a new stake in Tempest Therapeutics during the first quarter worth $26,000. Millennium Management LLC purchased a new stake in Tempest Therapeutics during the second quarter worth $29,000. Northern Trust Corp lifted its holdings in Tempest Therapeutics by 147.9% during the fourth quarter. Northern Trust Corp now owns 33,598 shares of the company's stock worth $148,000 after buying an additional 20,045 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Tempest Therapeutics by 52.9% during the second quarter. Geode Capital Management LLC now owns 102,244 shares of the company's stock worth $130,000 after buying an additional 35,372 shares during the period. Institutional investors own 22.52% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on TPST shares. William Blair reiterated an "outperform" rating on shares of Tempest Therapeutics in a research report on Wednesday, March 20th. HC Wainwright restated a "buy" rating and set a $47.00 target price on shares of Tempest Therapeutics in a research report on Wednesday, March 20th. Scotiabank began coverage on Tempest Therapeutics in a research report on Thursday, March 14th. They set a "sector outperform" rating and a $13.00 target price for the company. Finally, Jefferies Financial Group began coverage on Tempest Therapeutics in a research report on Thursday, February 8th. They set a "buy" rating and a $15.00 target price for the company.

About Tempest Therapeutics

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 solid tumors; 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.