Palisade Bio (NASDAQ:PALI) Cut to “Sell” at Wall Street Zen

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

A number of other brokerages also recently commented on PALI. Citigroup reiterated a “buy” rating on shares of Palisade Bio in a research note on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Palisade Bio in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $16.00.

Palisade Bio Stock Performance

Shares of Palisade Bio stock opened at $2.08 on Friday. The business has a 50-day simple moving average of $1.91 and a 200-day simple moving average of $1.23. Palisade Bio has a one year low of $0.53 and a one year high of $2.59. The company has a market cap of $309.92 million, a PE ratio of -0.98 and a beta of 1.54.

Palisade Bio (NASDAQ:PALI) last issued its earnings results on Monday, November 10th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.06). On average, sell-side analysts predict that Palisade Bio will post -12.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Palisade Bio

An institutional investor recently raised its position in Palisade Bio stock. Armistice Capital LLC lifted its position in shares of Palisade Bio, Inc. (NASDAQ:PALI) by 37.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 144,764 shares of the company’s stock after purchasing an additional 39,397 shares during the period. Armistice Capital LLC owned about 3.29% of Palisade Bio worth $99,000 at the end of the most recent reporting period. Institutional investors 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.