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

H.C. Wainwright analyst Joseph Pantginis upgraded Tempest Therapeutics (TPST) to Buy from Neutral with an $11 price target The company’s acquisition of Factor Bioscience’s CAR-T programs is a “shrewd and necessary move” to extend its “critically short cash runway into 2027,” the analyst tells investors in a research note. The firm Tempest’s strategic pivot also expands the company’s pipeline with a “clinically de-risked” cell therapy asset TPST-2003. It cites Tempest’s renewed strategic focus and market opportunity for the upgrade.