Tempest Therapeutics (NASDAQ:TPST) Shares Down 20.1% – Here’s What Happened

Shares of Tempest Therapeutics, Inc. (NASDAQ:TPST) fell 20.1% during trading on Monday . The company traded as low as $0.7653 and last traded at $0.7738. Approximately 1,866,226 shares were traded during trading, a decline of 75% from the average daily volume of 7,332,158 shares. The stock had previously closed at $0.9680.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Tempest Therapeutics in a report on Monday, July 13th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce”.

Tempest Therapeutics Stock Down 7.8%

The company’s fifty day moving average is $0.99 and its 200 day moving average is $1.42. The stock has a market cap of $15.25 million, a PE ratio of -0.22 and a beta of -1.68.

Tempest Therapeutics (NASDAQ:TPST) last released 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 expect that Tempest Therapeutics, Inc. will post -1.34 EPS for the current year.

Hedge Funds Weigh In On Tempest Therapeutics

A hedge fund recently bought a new position in Tempest Therapeutics stock. Sabby Management LLC acquired a new position in Tempest Therapeutics, Inc. (NASDAQ:TPST) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 178,592 shares of the company’s stock, valued at approximately $513,000. Tempest Therapeutics accounts for approximately 0.7% of Sabby Management LLC’s investment portfolio, making the stock its 7th biggest position. Sabby Management LLC owned approximately 3.62% of Tempest Therapeutics at the end of the most recent quarter. Institutional investors own 22.52% of the company’s stock.

About Tempest Therapeutics

Tempest Therapeutics, Inc is a clinical-stage biotechnology company focused on developing small-molecule medicines for cancer. Its research combines tumor-targeted approaches with immune-system modulation, with the goal of addressing both cancer-cell biology and the tumor microenvironment.

The company’s pipeline has included TPST-1120, an oral, selective antagonist of peroxisome proliferator-activated receptor alpha (PPARα). The program is being investigated for advanced solid tumors, including hepatocellular carcinoma, as a monotherapy and in combination with other cancer treatments.