Short Interest in Tempest Therapeutics, Inc. (NASDAQ:TPST) Declines By 39.7%

Tempest Therapeutics, Inc. (NASDAQ:TPST) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totaling 205,707 shares, a drop of 39.7% from the May 31st total of 341,334 shares. Currently, 2.2% of the company’s shares are sold short. Based on an average daily trading volume, of 100,848 shares, the days-to-cover ratio is presently 2.0 days.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wall Street Zen cut Tempest Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Zacks Research cut shares of Tempest Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Institutional Trading of Tempest Therapeutics

A number of hedge funds have recently made changes to their positions in TPST. Sabby Management LLC purchased a new stake in shares of Tempest Therapeutics in the 4th quarter worth approximately $513,000. Vanguard Group Inc. increased its holdings in shares of Tempest Therapeutics by 20.8% during the third quarter. Vanguard Group Inc. now owns 162,560 shares of the company’s stock valued at $1,671,000 after acquiring an additional 27,952 shares in the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in Tempest Therapeutics in the 4th quarter worth about $33,000. 22.52% of the stock is owned by institutional investors.

Tempest Therapeutics Stock Up 1.4%

Shares of NASDAQ:TPST traded up $0.01 during midday trading on Wednesday, reaching $1.12. The company’s stock had a trading volume of 15,209 shares, compared to its average volume of 168,859. The firm has a 50 day moving average of $1.58 and a 200-day moving average of $2.13. The firm has a market capitalization of $17.98 million, a P/E ratio of -0.19 and a beta of -1.85. Tempest Therapeutics has a 12-month low of $1.02 and a 12-month high of $12.23.

Tempest Therapeutics (NASDAQ:TPST) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($2.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($2.25). On average, research analysts predict that Tempest Therapeutics will post -1.34 EPS for the current year.

About Tempest Therapeutics

Tempest Therapeutics is a clinical?stage biopharmaceutical company focused on the discovery and development of small molecule therapies for cancer and immune?mediated diseases. Leveraging a proprietary drug discovery platform, Tempest advances programs designed to modulate tumor metabolism and enhance antitumor immunity. Its pipeline includes oral, selective inhibitors targeting pathways such as peroxisome proliferator?activated receptor alpha (PPAR?) and salt?inducible kinase (SIK), with potential applications across solid tumors and hematologic malignancies.

The company’s lead candidate, TPST-1120, is a first?in?class PPAR? antagonist designed to reprogram the tumor microenvironment by disrupting fatty acid oxidation in immune and cancer cells.