Tempest Therapeutics (NASDAQ:TPST) Given New $5.00 Price Target at Piper Sandler

Tempest Therapeutics (NASDAQ:TPST) had its target price trimmed by Piper Sandler from $8.00 to $5.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

TPST has been the subject of several other research reports. William Blair reaffirmed an “outperform” rating on shares of Tempest Therapeutics in a research note on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $47.00 target price on shares of Tempest Therapeutics in a report on Wednesday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $20.00.

Tempest Therapeutics Stock Performance

Tempest Therapeutics stock opened at $0.97 on Wednesday. The stock has a market cap of $24.37 million, a PE ratio of -0.63 and a beta of -1.78. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.12. The business’s 50-day moving average price is $1.20 and its two-hundred day moving average price is $1.96. Tempest Therapeutics has a 12-month low of $0.86 and a 12-month high of $6.00.

Hedge Funds Weigh In On Tempest Therapeutics

Large investors have recently modified their holdings of the company. Fullcircle Wealth LLC acquired a new position in Tempest Therapeutics during the 3rd quarter valued at about $87,000. Empower Advisory Group LLC purchased a new stake in shares of Tempest Therapeutics in the third quarter valued at about $49,000. Dimensional Fund Advisors LP bought a new position in shares of Tempest Therapeutics during the second quarter valued at about $55,000. Finally, Virtu Financial LLC boosted its holdings in Tempest Therapeutics by 69.2% during 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 last quarter. 22.52% of the stock is currently owned by institutional investors.

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.