What's Going On With Tempest Therapeutics Stock Today?

Tempest Therapeutics, Inc. TPST shares are continuing a recent streak of volatility Tuesday. TPST shares are up nearly 3500% over the last five days. 

What To Know:

Last Wednesday, TPST shares soared nearly 4000% after the company announced results from its ongoing Phase 1B/2 study of the company's TPST-1120 combination, which showed clinical superiority to existing treatments.

HC Wainwright & Co. analyst Joseph Pantginis maintained a Buy rating on Tempest Therapeutics and raised its price target from $35 to $47 last Wednesday. 

The following day, the company announced it had sold approximately 1.24 million shares of its common stock for gross proceeds of $7 million under a previously announced offering. 

Shares have continued to rank on trending tickers lists and trade on heavy volume since the announcements were made last week. 

According to data from Benzinga Pro, more than 40 million shares have already been traded on Tuesday, compared to the stock's 100-day average of 6.479 million shares.

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TPST Price Action: According to Benzinga Pro, Tempest Therapeutics shares are up 15% at $7.77 at the time of publication.

Image: Antonios Ntoumas from Pixabay