Palisade Bio (NASDAQ:PALI) Raised to Hold at Wall Street Zen

Palisade Bio (NASDAQ:PALI) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

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

Palisade Bio Stock Performance

Shares of Palisade Bio stock opened at $1.95 on Friday. The firm’s 50 day simple moving average is $1.92 and its two-hundred day simple moving average is $1.89. The firm has a market capitalization of $338.48 million, a price-to-earnings ratio of -1.93 and a beta of 1.50. Palisade Bio has a 12-month low of $0.53 and a 12-month high of $2.86.

Palisade Bio (NASDAQ:PALI) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). On average, sell-side analysts predict that Palisade Bio will post -0.24 EPS for the current fiscal year.

Insider Transactions at Palisade Bio

In related news, CEO John David Finley sold 146,798 shares of Palisade Bio stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $2.07, for a total transaction of $303,871.86. Following the completion of the transaction, the chief executive officer directly owned 217,555 shares in the company, valued at approximately $450,338.85. This trade represents a 40.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Robert Jr. Baltera purchased 25,000 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was bought at an average cost of $1.96 per share, with a total value of $49,000.00. Following the completion of the acquisition, the director directly owned 461,904 shares of the company’s stock, valued at $905,331.84. This trade represents a 5.72% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 125,000 shares of company stock worth $250,100 over the last quarter. 0.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Palisade Bio

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

About Palisade Bio

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.