Empower Advisory Group LLC Invests $49,000 in Tempest Therapeutics, Inc. (NASDAQ:TPST)

Empower Advisory Group LLC purchased a new position in Tempest Therapeutics, Inc. (NASDAQ:TPST) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 35,000 shares of the company’s stock, valued at approximately $49,000. Empower Advisory Group LLC owned 0.14% of Tempest Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of the business. Fullcircle Wealth LLC purchased a new stake in Tempest Therapeutics during the third quarter valued at approximately $87,000. Dimensional Fund Advisors LP purchased a new stake in Tempest Therapeutics during the second quarter valued at approximately $55,000. Finally, Virtu Financial LLC lifted its position in Tempest Therapeutics by 69.2% during the first quarter. Virtu Financial LLC now owns 28,574 shares of the company’s stock valued at $112,000 after acquiring an additional 11,689 shares during the last quarter. Hedge funds and other institutional investors own 22.52% of the company’s stock.

Wall Street Analyst Weigh In

TPST has been the subject of a number of analyst reports. Piper Sandler decreased their target price on shares of Tempest Therapeutics from $8.00 to $5.00 and set an “overweight” rating for the company in a research report on Wednesday. William Blair reaffirmed an “outperform” rating on shares of Tempest Therapeutics in a report on Wednesday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $47.00 price target on shares of Tempest Therapeutics in a report on Wednesday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $20.00.

Tempest Therapeutics Price Performance

NASDAQ:TPST opened at $0.89 on Friday. The firm has a market capitalization of $22.43 million, a P/E ratio of -0.58 and a beta of -1.78. Tempest Therapeutics, Inc. has a 1-year low of $0.83 and a 1-year high of $6.00. The company’s fifty day moving average price is $1.20 and its 200-day moving average price is $1.95.

Tempest Therapeutics 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.