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Why Is Tempest Therapeutics (TPST) Stock Down 35% Today?

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  • Tempest Therapeutics (TPST) stock is falling Thursday but only after a massive rally.
  • The company’s shares jumped 2,879% yesterday alongside heavy trading.
  • That came alongside results from a liver cancer treatment clinical trial.
TPST Stock - Why Is Tempest Therapeutics (TPST) Stock Down 35% Today?

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Tempest Therapeutics (NASDAQ:TPST) stock is taking a beating on Thursday as the company’s shares retreat from a recent rally.

Shares of TPST stock are down 34.8% as of Thursday morning. That drop comes alongside more than 4.2 million shares of the company’s stock trading as of this writing. To put that in perspective, the company’s daily average trading volume is about 3.2 million shares.

Now compare that to Tempest Therapeutics’ movement yesterday, which saw its stock rally 2,879% during normal trading hours. That came as more than 157 million shares of the clinical-stage oncology company’s shares changed hands.

What’s Behind the TPST Stock Volatility?

Shares of TPST stock are getting extra attention from investors alongside data from a clinical trial. The big news here is the positive results from a study of its lead liver cancer treatment drug candidate.

Tempest Therapeutics’ liver cancer treatment has been well received by patients. The company offered up a collection of three treatments, with patients taking all of them seeing a 30% objective response rate (ORR). For comparison, patients who only took one of the treatments only had an ORR of 13.3%.

TPST stock could remain hot in the future as the company is conducting additional trials of its cancer treatment. It’s also looking to test the drug on other types of tumors.

Investors seeking out even more of the most recent stock market stories will want to stick around!

We’re offering up all of the latest stock market news that traders need to know about on Thursday! A few examples include what’s going on with shares of Secoo (NASDAQ:SECO) and OpGen (NASDAQ:OPGN) shares this morning and the biggest pre-market stock movers for today. All of that news is available at the following links!

More Thursday Stock Market News

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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.


Article printed from InvestorPlace Media, https://investorplace.com/2023/10/why-is-tempest-therapeutics-tpst-stock-down-35-today/.

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