Short Interest in Tempest Therapeutics, Inc. (NASDAQ:TPST) Expands By 100.0%

by · The Markets Daily

Tempest Therapeutics, Inc. (NASDAQ:TPST – Get Free Report) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totalling 3,720,000 shares, a growth of 100.0% from the September 30th total of 1,860,000 shares. Based on an average daily volume of 4,310,000 shares, the days-to-cover ratio is currently 0.9 days. Approximately 17.6% of the shares of the stock are sold short.

Insider Buying and Selling

In related news, major shareholder Versant Venture Capital Vi, L. sold 387,999 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $1.10, for a total transaction of $426,798.90. Following the completion of the transaction, the insider now directly owns 209,941 shares of the company’s stock, valued at approximately $230,935.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Tempest Therapeutics stock. Virtu Financial LLC boosted its position in shares of Tempest Therapeutics, Inc. (NASDAQ:TPST – Free Report) by 69.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,574 shares of the company’s stock after purchasing an additional 11,689 shares during the quarter. Virtu Financial LLC owned about 0.13% of Tempest Therapeutics worth $112,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 22.52% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Tempest Therapeutics in a research note on Thursday, October 10th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $20.75.

View Our Latest Report on TPST

Tempest Therapeutics Trading Up 0.9 %

Shares of TPST stock traded up $0.01 on Monday, reaching $1.10. 3,505,320 shares of the company’s stock were exchanged, compared to its average volume of 2,036,458. Tempest Therapeutics has a 52 week low of $0.92 and a 52 week high of $6.00. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $24.44 million, a PE ratio of -0.64 and a beta of -1.86. The company’s fifty day simple moving average is $1.29 and its 200 day simple moving average is $2.16.

Tempest Therapeutics (NASDAQ:TPST – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.05. As a group, analysts forecast that Tempest Therapeutics will post -1.5 EPS for the current year.

About Tempest Therapeutics

(Get Free Report)

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.

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