Tempest Therapeutics (NASDAQ:TPST) stock is rocketing higher on Monday and reaching new highs since completing its merger with Millendo Therapeutics last month.
Here’s everything potential investors in TPST stock need to know about the company.
- Tempest Therapeutics is a clinical-stage oncology company,
- Its focus is on developing small molecules for “targeted and immune-mediated mechanisms with the potential to treat a wide range of tumors.”
- The company currently has two novel candidates in development: TPST-1495 and TPST-1120.
- Both of these are in Phase 1 clinical trials to treat EP2/EP4 and PPARα, respectively.
- It’s also worth noting that the company is working on an oral inhibitor of TREX-1.
- The most recent news from Tempest Therapeutics is an announcement for it attending William Blair 2021 Biotech Focus Conference this Wednesday.
- Outside of that, there’s no other news that would be sending shares of TPST stock higher today.
- Instead, it looks like TPST stock has become the target of day traders pumping and dumping shares.
- That’s resulted in the stock seeing heavy trading on Monday.
- As of this writing, more than 5 million shares of the stock have changed hands.
- That’s an impressive leap compared to the company’s daily average trading volume of about 278,000 shares.
- It also means investors will want to be wary about jumping in on the stock today.
- While the positive momentum is attractive, it might not take long for it to turn negative as day traders exit the stock.
TPST stock was up 107.3% as of Monday morning but is only up 3.8% since the start of the year.
Investors looking for more stock market news today will want to keep reading.
InvestorPlace.com has all the latest stock market coverage that traders need to know about. A few examples of today’s news include what retail traders are saying about SGOCO Group (NASDAQ:SGOC), Lionheart Acquisition II (NASDAQ:LCAP) and MSP Recovery announcing SPAC merger plans, as well as space stocks taking off. You can learn all about these subjects by checking the links below!
More Stock Market News for Monday
- SGOC Stock: What Meme Stock Investors Are Saying About SGOCO Group as Shares Soar
- LCAP Stock: What to Know About Lionheart Acquisition and the MSP Recovery SPAC Merger
- Space Stocks: The Milestone That Has VACQ, ASTR, ASTS Stocks Gaining Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.