Tempest Therapeutics downgraded to Neutral from Buy at H.C. Wainwright

H.C. Wainwright downgraded Tempest Therapeutics (TPST) to Neutral from Buy without a price target after the company announced it is seeking to explore strategic alternatives to advance its pipeline of clinical stage oncology assets. The firm says a “dire” funding environment and recent shakeups at the FDA “bring about plenty of regulatory uncertainty at this time.”