Short Interest in Tempest Therapeutics, Inc. (NASDAQ:TPST) Increases By 39.8%

Tempest Therapeutics, Inc. (NASDAQ:TPST - Get Free Report) was the recipient of a large growth in short interest in the month of April. As of April 30th, there was short interest totalling 1,580,000 shares, a growth of 39.8% from the April 15th total of 1,130,000 shares. Approximately 9.4% of the shares of the stock are sold short. Based on an average daily volume of 901,800 shares, the short-interest ratio is currently 1.8 days.

Institutional Investors Weigh In On Tempest Therapeutics

A hedge fund recently bought a new stake in Tempest Therapeutics stock. MayTech Global Investments LLC bought a new position in shares of Tempest Therapeutics, Inc. (NASDAQ:TPST - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,000 shares of the company's stock, valued at approximately $44,000. Tempest Therapeutics comprises approximately 0.0% of MayTech Global Investments LLC's investment portfolio, making the stock its 29th biggest holding. MayTech Global Investments LLC owned 0.05% of Tempest Therapeutics at the end of the most recent reporting period. Institutional investors own 22.52% of the company's stock.

Tempest Therapeutics Price Performance

NASDAQ TPST traded down $0.22 during trading on Friday, hitting $3.25. 490,889 shares of the stock traded hands, compared to its average volume of 386,137. The company has a market capitalization of $72.22 million, a P/E ratio of -1.89 and a beta of -1.65. Tempest Therapeutics has a 12-month low of $0.17 and a 12-month high of $9.77. The firm has a 50-day simple moving average of $3.66 and a 200-day simple moving average of $3.80. The company has a quick ratio of 4.29, a current ratio of 4.29 and a debt-to-equity ratio of 0.23.

Tempest Therapeutics (NASDAQ:TPST - Get Free Report) last posted its earnings results on Tuesday, March 19th. The company reported ($0.34) earnings per share for the quarter, topping analysts' consensus estimates of ($0.38) by $0.04. As a group, analysts predict that Tempest Therapeutics will post -1.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TPST. William Blair reaffirmed an "outperform" rating on shares of Tempest Therapeutics in a research note on Wednesday, March 20th. Jefferies Financial Group began coverage on shares of Tempest Therapeutics in a research report on Thursday, February 8th. They set a "buy" rating and a $15.00 price objective on the stock. Scotiabank began coverage on shares of 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, HC Wainwright reaffirmed a "buy" rating and set a $47.00 target price on shares of Tempest Therapeutics 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.