Tempest Therapeutics, Inc. (NASDAQ:TPST) Stock Short Interest Report for October

Tempest Therapeutics, Inc. (NASDAQ:TPST) was the recipient of a significant drop in short interest during the month of 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 volume of 361,462 shares, the days-to-cover ratio is currently 0.9 days. Approximately 2.9% of the shares of the stock are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Tempest Therapeutics stock. Squarepoint Ops LLC acquired a new position in Tempest Therapeutics, Inc. (NASDAQ:TPST) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 30,900 shares of the company’s stock, valued at approximately $34,000. Squarepoint Ops LLC owned 0.19% of Tempest Therapeutics as of its most recent filing with the Securities & Exchange Commission. 22.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TPST. Wall Street Zen upgraded Tempest Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th. Weiss Ratings restated a “sell (e+)” rating on shares of Tempest Therapeutics in a report on Friday, October 9th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Tempest Therapeutics presently has a consensus rating of “Reduce”.

Tempest Therapeutics Trading Down 7.1%

Tempest Therapeutics stock traded down $0.04 during midday trading on Friday, hitting $0.50. 145,637 shares of the stock were exchanged, compared to its average volume of 262,599. Tempest Therapeutics has a fifty-two week low of $0.49 and a fifty-two week high of $10.73. The stock has a market capitalization of $9.91 million, a price-to-earnings ratio of -0.12 and a beta of -1.73. The stock’s 50-day simple moving average is $0.82 and its 200 day simple moving average is $1.51.

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

About Tempest Therapeutics

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.