Tempest Therapeutics, Inc. (NASDAQ:TPST) Stock Short Interest Falls 48.6%

Tempest Therapeutics, Inc. (NASDAQ:TPST) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totaling 312,948 shares, a drop of 48.6% from the September 30th total of 608,434 shares. Based on an average daily trading volume, of 361,462 shares, the days-to-cover ratio is currently 0.9 days. Currently, 2.9% of the shares of the stock are sold short.

Tempest Therapeutics Stock Performance

NASDAQ TPST opened at $0.50 on Friday. Tempest Therapeutics has a one year low of $0.49 and a one year high of $10.73. The company’s 50 day moving average price is $0.82 and its 200 day moving average price is $1.51.

Tempest Therapeutics (NASDAQ:TPST) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.04). Equities analysts anticipate that Tempest Therapeutics will post -0.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wall Street Zen raised Tempest Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, October 24th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tempest Therapeutics in a research note on Friday, October 9th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Tempest Therapeutics stock. Squarepoint Ops LLC purchased a new stake in shares of Tempest Therapeutics, Inc. (NASDAQ:TPST) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 30,900 shares of the company’s stock, valued at approximately $34,000. Squarepoint Ops LLC owned 0.19% of Tempest Therapeutics at the end of the most recent reporting period. Hedge funds and other institutional investors own 22.52% of the company’s stock.

Tempest Therapeutics Company Profile

Tempest Therapeutics, Inc is a clinical-stage biotechnology company focused on developing small-molecule medicines for cancer. The company’s approach is designed to address both tumor cells and the immune environment surrounding them, with the goal of stimulating antitumor immune responses and improving the effectiveness of cancer treatment.

Tempest’s pipeline includes TPST-1120, an orally administered, selective antagonist of peroxisome proliferator-activated receptor alpha (PPARα). The company has evaluated TPST-1120 in clinical studies involving advanced solid tumors, including hepatocellular carcinoma, and has investigated its use in combination with other cancer therapies.