TPST stock touches 52-week low at $0.69 amid market challenges

In a turbulent market environment, TPST, also known as Ovascience Inc (NASDAQ:TPST), has seen its stock price plummet to $0.69, near its 52-week low. With a market capitalization of just $29.7 million and a beta of -2.28, the stock tends to move contrary to broader market trends. According to InvestingPro analysis, the company maintains a healthy current ratio of 2.2, indicating strong short-term liquidity. This significant downturn reflects a broader trend for the company, which has experienced a staggering 1-year decline of -82.44%. Investors are closely monitoring TPST as it navigates through these challenging financial waters, with analyst price targets ranging from $5 to $16 suggesting potential recovery potential. InvestingPro has identified 11 additional key insights about TPST that could help investors make more informed decisions about this volatile stock.

In other recent news, Tempest Therapeutics announced its fourth-quarter and full-year 2024 financial results, which did not meet expectations. The company reported an earnings per share (EPS) of ($0.34) for the quarter and ($1.50) for the year, missing both the firm and consensus estimates. Following this, H.C. Wainwright revised the price target for Tempest Therapeutics to $16.00 from $47.00, while maintaining a Buy rating. The firm cited adjustments to the share count, discount rate, and the timeline for the amezalpat HCC study as reasons for the change. Tempest has also received FDA authorization to proceed with a Phase 2 clinical trial for TPST-1495, a potential treatment for Familial Adenomatous Polyposis (FAP). This trial, supported by the National Cancer Institute, aims to evaluate the drug’s efficacy and safety in reducing duodenal polyp burden. Additionally, Tempest has made progress in its lead clinical program by preparing for a Phase 3 study of amezalpat in combination with atezolizumab/bevacizumab. This development is bolstered by an agreement with Roche to supply atezolizumab, reducing costs for the study.

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