Tempest Therapeutics (NASDAQ:TPST) Given Sector Perform Rating at Scotiabank

Scotiabank restated their sector perform rating on shares of Tempest Therapeutics (NASDAQ:TPST - Free Report) in a research note issued to investors on Thursday morning, MarketBeat.com reports. The firm currently has a $9.00 price objective on the stock, up from their prior price objective of $7.00.

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

Tempest Therapeutics Trading Up 6.1 %

Shares of TPST traded up $0.36 during mid-day trading on Thursday, reaching $6.22. 112,632 shares of the stock traded hands, compared to its average volume of 156,830. Tempest Therapeutics has a 1 year low of $5.35 and a 1 year high of $50.18. The company has a market cap of $282.90 million, a price-to-earnings ratio of -4.07 and a beta of -2.34. The firm has a fifty day moving average price of $10.23 and a 200 day moving average price of $11.90.

Tempest Therapeutics (NASDAQ:TPST - Get Free Report) last posted its earnings results on Thursday, March 27th. The company reported ($4.03) EPS for the quarter, missing the consensus estimate of ($3.12) by ($0.91). The company had revenue of $0.49 million during the quarter. On average, sell-side analysts anticipate that Tempest Therapeutics will post -1.39 EPS for the current year.

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Institutional Investors Weigh In On Tempest Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new position in shares of Tempest Therapeutics in the 3rd quarter worth about $34,000. Virtu Financial LLC bought a new stake in Tempest Therapeutics in the 4th quarter worth approximately $36,000. Northern Trust Corp boosted its stake in Tempest Therapeutics by 233.2% in the fourth quarter. Northern Trust Corp now owns 67,815 shares of the company's stock worth $57,000 after buying an additional 47,461 shares in the last quarter. Millennium Management LLC bought a new position in Tempest Therapeutics during the fourth quarter valued at approximately $158,000. Finally, Geode Capital Management LLC raised its stake in shares of Tempest Therapeutics by 61.0% during the fourth quarter. Geode Capital Management LLC now owns 354,276 shares of the company's stock worth $296,000 after acquiring an additional 134,209 shares in the last quarter. Hedge funds and other 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.