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
- Why Is Secoo (SECO) Stock Up 703% Today?
- Why Is OpGen (OPGN) Stock Up 540% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risk.
Read More: Penny Stocks — How to Profit Without Getting Scammed
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.
