HomeMarket NewsTempest Therapeutics: A Rollercoaster Ride for Investors as Stock Skyrockets 85%

Tempest Therapeutics: A Rollercoaster Ride for Investors as Stock Skyrockets 85%

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Investors and traders of Tempest Therapeutics (NASDAQ:TPST) have been on a wild ride as the stock experienced a staggering 85% rally on Monday.

At market open, Tempest shares were priced at $3.97, peaking at $7.45 before settling at $6.74 at the close.

Last Wednesday, Tempest shares skyrocketed nearly 4,000% after the company released updated data from a Phase 1/2 study for TPST-1120. This surge propelled the stock to reach a high of $9.77. The company also implemented a limited duration shareholders rights plan, although no specific takeover threat prompted this action.

The stock took a sharp downturn on Thursday, falling 59%, and declined an additional 9% on Friday, closing the week at $3.64.

(Note: This article has been updated with closing prices.)

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