Palisade Bio (NASDAQ:PALI) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Palisade Bio (NASDAQ:PALI) from a sell rating to a hold rating in a research note issued to investors on Saturday.

A number of other brokerages also recently issued reports on PALI. Wolfe Research started coverage on shares of Palisade Bio in a report on Thursday, April 9th. They set an “outperform” rating and a $7.00 price target for the company. LADENBURG THALM/SH SH raised Palisade Bio to a “strong-buy” rating in a research note on Thursday, June 25th. HC Wainwright restated a “buy” rating and issued a $2.00 target price on shares of Palisade Bio in a research report on Tuesday, June 30th. Weiss Ratings lowered Palisade Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 14th. Finally, Oppenheimer assumed coverage on Palisade Bio in a report on Thursday. They set an “outperform” rating and a $8.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $9.00.

Palisade Bio Stock Down 3.5%

NASDAQ PALI opened at $1.95 on Friday. The business’s fifty day simple moving average is $1.92 and its 200-day simple moving average is $1.90. The firm has a market cap of $338.48 million, a PE ratio of -1.93 and a beta of 1.50. Palisade Bio has a 52 week low of $0.53 and a 52 week high of $2.86.

Palisade Bio (NASDAQ:PALI) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). Research analysts expect that Palisade Bio will post -0.24 EPS for the current year.

Insider Buying and Selling

In other news, Director Robert Jr. Baltera purchased 30,000 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were bought at an average cost of $2.03 per share, for a total transaction of $60,900.00. Following the completion of the purchase, the director directly owned 416,904 shares of the company’s stock, valued at approximately $846,315.12. This trade represents a 7.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mitchell Lawrence Jones sold 51,880 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $2.05, for a total value of $106,354.00. Following the transaction, the insider owned 94,009 shares of the company’s stock, valued at approximately $192,718.45. This represents a 35.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders purchased 125,000 shares of company stock valued at $250,100. Company insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On Palisade Bio

Several hedge funds have recently bought and sold shares of PALI. Cetera Investment Advisers purchased a new position in Palisade Bio during the 4th quarter valued at about $25,000. Schonfeld Strategic Advisors LLC purchased a new stake in Palisade Bio during the fourth quarter worth about $26,000. Virtu Financial LLC acquired a new stake in shares of Palisade Bio during the fourth quarter worth about $28,000. CTC Alternative Strategies Ltd. acquired a new stake in shares of Palisade Bio during the first quarter worth about $31,000. Finally, Atom Investors LP purchased a new position in shares of Palisade Bio in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 11.79% of the company’s stock.

Palisade Bio Company Profile

Palisade Bio, Inc is a clinical‐stage biotechnology company focused on pioneering localized immunotherapies for the treatment of cancer and inflammatory diseases. The company leverages a proprietary prodrug platform designed to activate therapeutic agents selectively within the tumor microenvironment or sites of inflammation. Its core strategy centers on stimulating the innate immune system via toll‐like receptor 9 (TLR9) agonism to drive targeted immune responses while minimizing systemic exposure and toxicity.

The company’s lead product candidate, PDS0108, is an intratumoral TLR9 agonist prodrug currently in Phase 1/2 clinical trials for patients with advanced solid tumors.