What's Going On With Tempest Therapeutics Stock Today?
Portfolio Pulse from Erica Kollmann
Tempest Therapeutics, Inc. (NASDAQ:TPST) shares have seen a recent streak of volatility, with shares up nearly 3500% over the last five days. This surge followed the company's announcement of positive results from its ongoing Phase 1B/2 study of TPST-1120 combination, and a price target increase from $35 to $47 by HC Wainwright & Co. analyst Joseph Pantginis. The company also sold approximately 1.24 million shares of its common stock for gross proceeds of $7 million.
October 17, 2023 | 3:18 pm
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POSITIVE IMPACT
Tempest Therapeutics' stock has surged following positive clinical trial results and a price target increase. The company also raised $7 million through a stock sale.
The surge in Tempest Therapeutics' stock price can be attributed to the positive results from its ongoing Phase 1B/2 study and the subsequent price target increase by HC Wainwright & Co. The company's successful stock sale also indicates strong investor confidence, which could further drive the stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100