Scotiabank Reaffirms Sector Perform Rating for Tempest Therapeutics (NASDAQ:TPST)

Scotiabank reissued their sector perform rating on shares of Tempest Therapeutics (NASDAQ:TPST - Free Report) in a report released on Thursday morning, MarketBeat Ratings reports. The brokerage currently has a $9.00 price target on the stock, up from their prior price target of $7.00.

Separately, HC Wainwright cut their price target on shares of Tempest Therapeutics from $611.00 to $208.00 and set a "buy" rating on the stock in a report on Friday, March 28th.

Tempest Therapeutics Stock Performance

Shares of TPST stock traded up $0.34 on Thursday, reaching $7.30. 33,949 shares of the company's stock traded hands, compared to its average volume of 156,424. The company has a market capitalization of $25.69 million, a P/E ratio of -4.77 and a beta of -2.34. Tempest Therapeutics has a 12-month low of $5.35 and a 12-month high of $49.27. The business's 50 day moving average price is $10.13 and its two-hundred day moving average price is $11.79.

Tempest Therapeutics (NASDAQ:TPST - Get Free Report) last posted its quarterly earnings results on Thursday, March 27th. The company reported ($4.03) earnings per share for the quarter, missing analysts' consensus estimates of ($3.12) by ($0.91). The firm had revenue of $0.49 million for the quarter. Research analysts predict that Tempest Therapeutics will post -1.39 earnings per share for the current year.

Institutional Investors Weigh In On Tempest Therapeutics

Large investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new stake in shares of Tempest Therapeutics in the third quarter worth $34,000. Virtu Financial LLC bought a new position in Tempest Therapeutics in the 4th quarter worth $36,000. Northern Trust Corp lifted its position in Tempest Therapeutics by 233.2% during the 4th quarter. Northern Trust Corp now owns 67,815 shares of the company's stock worth $57,000 after acquiring an additional 47,461 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Tempest Therapeutics by 42.7% during the third quarter. Geode Capital Management LLC now owns 220,067 shares of the company's stock valued at $308,000 after acquiring an additional 65,826 shares during the period. Finally, Millennium Management LLC acquired a new stake in shares of Tempest Therapeutics in the fourth quarter valued at about $158,000. Institutional investors own 22.52% of the company's stock.

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.