Tempest Therapeutics (NASDAQ:TPST) Given New $7.00 Price Target at Scotiabank

Tempest Therapeutics (NASDAQ:TPST) had its price objective decreased by Scotiabank from $13.00 to $7.00 in a research report report published on Friday,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Separately, HC Wainwright cut their price target on shares of Tempest Therapeutics from $47.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday.

Tempest Therapeutics Price Performance

Shares of TPST opened at $0.77 on Friday. The business has a 50-day moving average of $0.87 and a 200-day moving average of $0.98. The company has a market capitalization of $33.70 million, a price-to-earnings ratio of -0.50 and a beta of -1.83. Tempest Therapeutics has a 1 year low of $0.70 and a 1 year high of $6.00.

Tempest Therapeutics (NASDAQ:TPST) last released its quarterly earnings results on Thursday, March 27th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.07). The business had revenue of $0.49 million for the quarter. As a group, sell-side analysts anticipate that Tempest Therapeutics will post -1.39 EPS for the current year.

Hedge Funds Weigh In On Tempest Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Versant Venture Management LLC acquired a new position in shares of Tempest Therapeutics during the 4th quarter valued at $2,927,000. Jane Street Group LLC bought a new stake in Tempest Therapeutics in the fourth quarter valued at $411,000. Millennium Management LLC acquired a new position in shares of Tempest Therapeutics during the fourth quarter valued at about $158,000. XTX Topco Ltd boosted its position in shares of Tempest Therapeutics by 570.3% during the 4th quarter. XTX Topco Ltd now owns 160,807 shares of the company’s stock worth $134,000 after purchasing an additional 136,818 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Tempest Therapeutics by 61.0% in the 4th quarter. Geode Capital Management LLC now owns 354,276 shares of the company’s stock valued at $296,000 after buying an additional 134,209 shares during the period. 22.52% of the stock is currently owned by institutional investors.

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.