Palisade Bio (NASDAQ:PALI) Issues Quarterly Earnings Results

Palisade Bio (NASDAQ:PALI) issued its earnings results on Monday. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05), FiscalAI reports. The company had revenue of $0.50 million during the quarter.

Palisade Bio Stock Performance

PALI traded down $0.01 during trading on Monday, reaching $2.10. The stock had a trading volume of 836,774 shares, compared to its average volume of 3,843,239. The stock has a market cap of $364.52 million, a PE ratio of -2.08 and a beta of 1.52. Palisade Bio has a one year low of $0.53 and a one year high of $2.86. The business has a 50-day moving average of $1.93 and a 200-day moving average of $1.91.

Wall Street Analyst Weigh In

PALI has been the topic of a number of recent analyst reports. Weiss Ratings downgraded shares of Palisade Bio from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 14th. 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. Wall Street Zen raised shares of Palisade Bio from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. LADENBURG THALM/SH SH raised shares of Palisade Bio to a “strong-buy” rating in a report on Thursday, June 25th. Finally, Oppenheimer assumed coverage on Palisade Bio in a research note on Thursday, July 23rd. They set an “outperform” rating and a $8.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $9.00.

Insiders Place Their Bets

In related news, insider Mitchell Lawrence Jones sold 51,880 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider owned 94,009 shares in the company, valued at $192,718.45. The trade was a 35.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John David Finley sold 146,798 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $2.07, for a total transaction of $303,871.86. Following the transaction, the chief executive officer owned 217,555 shares in the company, valued at $450,338.85. The trade was a 40.29% 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. Insiders bought a total of 125,000 shares of company stock valued at $250,100 over the last 90 days. Insiders own 0.07% of the company’s stock.

Institutional Investors Weigh In On Palisade Bio

A number of institutional investors have recently made changes to their positions in PALI. Janus Henderson Group PLC bought a new position in shares of Palisade Bio during the 4th quarter valued at $24,822,000. RA Capital Management L.P. purchased a new stake in Palisade Bio during the fourth quarter valued at about $16,742,000. Franklin Resources Inc. purchased a new stake in Palisade Bio during the fourth quarter valued at about $11,968,000. Adage Capital Partners GP L.L.C. bought a new position in shares of Palisade Bio during the fourth quarter valued at about $10,575,000. Finally, Squadron Capital Management LLC bought a new position in shares of Palisade Bio during the fourth quarter valued at about $10,575,000. Hedge funds and other 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.