Mitchell Lawrence Jones Sells 51,880 Shares of Palisade Bio (NASDAQ:PALI) Stock

Palisade Bio, Inc. (NASDAQ:PALI) insider Mitchell Lawrence Jones sold 51,880 shares of Palisade Bio stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $2.05, for a total value of $106,354.00. Following the completion of the transaction, the insider owned 94,009 shares of the company’s stock, valued at approximately $192,718.45. This trade represents a 35.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Palisade Bio Price Performance

Shares of NASDAQ PALI opened at $1.97 on Friday. The stock’s 50-day moving average is $1.92 and its two-hundred day moving average is $1.92. Palisade Bio, Inc. has a 1-year low of $0.53 and a 1-year high of $2.86. The company has a market cap of $341.95 million, a price-to-earnings ratio of -1.95 and a beta of 1.50.

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 the consensus estimate of ($0.04) by ($0.01). Equities research analysts anticipate that Palisade Bio, Inc. will post -0.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on PALI. Wall Street Zen upgraded shares of Palisade Bio from a “sell” rating to a “hold” rating in a report on Sunday, July 5th. HC Wainwright reaffirmed a “buy” rating and set a $2.00 price objective on shares of Palisade Bio in a research report on Tuesday, June 30th. Wolfe Research began coverage on shares of Palisade Bio in a research note on Thursday, April 9th. They set an “outperform” rating and a $7.00 target price for the company. Oppenheimer set a $7.00 target price on Palisade Bio in a report on Tuesday, June 30th. Finally, Weiss Ratings raised Palisade Bio from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $8.83.

Institutional Investors Weigh In On Palisade Bio

Several hedge funds and other institutional investors have recently bought and sold shares of PALI. XTX Topco Ltd lifted its position in Palisade Bio by 53.8% in the fourth quarter. XTX Topco Ltd now owns 21,669 shares of the company’s stock valued at $51,000 after acquiring an additional 7,584 shares during the last quarter. Cetera Investment Advisers purchased a new position in shares of Palisade Bio during the fourth quarter worth about $25,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of 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. Finally, Atom Investors LP purchased a new stake in shares of Palisade Bio in the 4th quarter valued at about $33,000. 11.79% of the stock is currently owned by institutional investors and hedge funds.

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.