HC Wainwright Has Bullish Estimate for TPST FY2024 Earnings

Tempest Therapeutics, Inc. (NASDAQ:TPST) – Investment analysts at HC Wainwright lifted their FY2024 EPS estimates for Tempest Therapeutics in a research note issued to investors on Wednesday, November 13th. HC Wainwright analyst J. Pantginis now expects that the company will post earnings of ($1.27) per share for the year, up from their previous estimate of ($1.54). HC Wainwright currently has a “Buy” rating and a $47.00 target price on the stock. The consensus estimate for Tempest Therapeutics’ current full-year earnings is ($1.50) per share. HC Wainwright also issued estimates for Tempest Therapeutics’ Q4 2024 earnings at ($0.19) EPS, FY2025 earnings at ($0.87) EPS, FY2026 earnings at ($1.07) EPS, FY2027 earnings at ($0.89) EPS and FY2028 earnings at ($1.04) EPS.

Several other research firms have also issued reports on TPST. Piper Sandler decreased their price target on shares of Tempest Therapeutics from $8.00 to $5.00 and set an “overweight” rating on the stock in a research report on Wednesday. William Blair restated an “outperform” rating on shares of Tempest Therapeutics in a report on Wednesday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $20.00.

Tempest Therapeutics Stock Down 8.3 %

Shares of TPST stock opened at $0.89 on Friday. The stock has a 50-day simple moving average of $1.19 and a 200 day simple moving average of $1.93. The stock has a market capitalization of $22.43 million, a P/E ratio of -0.58 and a beta of -1.78. Tempest Therapeutics has a fifty-two week low of $0.83 and a fifty-two week high of $6.00.

Tempest Therapeutics (NASDAQ:TPST) last announced its earnings results on Tuesday, November 12th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.04).

Institutional Investors Weigh In On Tempest Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in TPST. Geode Capital Management LLC grew its stake in Tempest Therapeutics by 42.7% in the 3rd quarter. Geode Capital Management LLC now owns 220,067 shares of the company’s stock valued at $308,000 after buying an additional 65,826 shares during the last quarter. Fullcircle Wealth LLC bought a new stake in Tempest Therapeutics during the third quarter valued at about $87,000. Empower Advisory Group LLC acquired a new stake in shares of Tempest Therapeutics in the third quarter valued at about $49,000. Virtu Financial LLC increased its stake in shares of Tempest Therapeutics by 69.2% in the first quarter. Virtu Financial LLC now owns 28,574 shares of the company’s stock worth $112,000 after purchasing an additional 11,689 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Tempest Therapeutics during the 2nd quarter worth about $55,000. 22.52% of the stock is currently owned by institutional investors and hedge funds.

About Tempest Therapeutics

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.