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

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

A number of other research analysts also recently commented on PALI. Weiss Ratings downgraded shares of Palisade Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 14th. Wolfe Research initiated coverage on shares of Palisade Bio in a report on Thursday, April 9th. They issued an “outperform” rating and a $7.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $2.00 target price on shares of Palisade Bio in a research note on Tuesday, June 30th. LADENBURG THALM/SH SH upgraded Palisade Bio to a “strong-buy” rating in a report on Thursday, June 25th. Finally, Oppenheimer started coverage on Palisade Bio in a research report on Thursday. They set an “outperform” rating and a $8.00 price target on the stock. Two research 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’s stock. According to MarketBeat.com, Palisade Bio presently has an average rating of “Buy” and a consensus target price of $9.00.

Palisade Bio Trading Down 3.5%

NASDAQ:PALI opened at $1.95 on Friday. Palisade Bio has a 1-year low of $0.53 and a 1-year high of $2.86. The firm has a fifty day simple moving average of $1.92 and a 200 day simple moving average of $1.90. The stock has a market capitalization of $338.48 million, a PE ratio of -1.93 and a beta of 1.50.

Palisade Bio (NASDAQ:PALI) last issued its earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). On average, equities analysts predict that Palisade Bio will post -0.25 earnings per share for the current fiscal year.

Insider Transactions at Palisade Bio

In other news, insider Mitchell Lawrence Jones sold 51,880 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $2.05, for a total transaction of $106,354.00. Following the completion of the sale, the insider owned 94,009 shares in the company, valued at approximately $192,718.45. This trade represents a 35.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 Palisade Bio stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $2.07, for a total transaction of $303,871.86. Following the sale, the chief executive officer directly owned 217,555 shares of the company’s stock, valued at $450,338.85. The trade was a 40.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders purchased 125,000 shares of company stock worth $250,100. 0.07% of the stock is owned by insiders.

Hedge Funds Weigh In On Palisade Bio

Several institutional investors and hedge funds have recently made changes to their positions in PALI. XTX Topco Ltd lifted its holdings in Palisade Bio by 53.8% during the 4th quarter. XTX Topco Ltd now owns 21,669 shares of the company’s stock worth $51,000 after purchasing an additional 7,584 shares during the last quarter. Cetera Investment Advisers acquired a new position in Palisade Bio in the 4th quarter valued at $25,000. Schonfeld Strategic Advisors LLC bought a new position in Palisade Bio during the 4th quarter worth $26,000. Virtu Financial LLC bought a new position in Palisade Bio during the 4th quarter worth $28,000. Finally, Atom Investors LP acquired a new stake in shares of Palisade Bio during the fourth quarter worth $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.