Palisade Bio (NASDAQ:PALI) Issues Earnings Results

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

Palisade Bio Trading Down 0.5%

Palisade Bio stock traded down $0.01 during mid-day trading on Monday, hitting $2.10. The stock had a trading volume of 1,308,927 shares, compared to its average volume of 3,844,720. Palisade Bio has a one year low of $0.53 and a one year high of $2.86. The firm has a market capitalization of $364.52 million, a P/E ratio of -2.08 and a beta of 1.52. The firm’s 50 day moving average is $1.93 and its 200 day moving average is $1.91.

Analyst Ratings Changes

Several equities research analysts have recently commented on PALI shares. Oppenheimer began coverage on Palisade Bio in a research note on Thursday, July 23rd. They issued an “outperform” rating and a $8.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $2.00 price target on shares of Palisade Bio in a report on Tuesday, June 30th. LADENBURG THALM/SH SH upgraded Palisade Bio to a “strong-buy” rating in a research report on Thursday, June 25th. Weiss Ratings downgraded Palisade Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 14th. Finally, Wall Street Zen raised Palisade Bio from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $9.00.

Insider Buying and Selling at Palisade Bio

In other news, CEO John David Finley sold 146,798 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $2.07, for a total value of $303,871.86. Following the transaction, the chief executive officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mitchell Lawrence Jones sold 51,880 shares of the company’s stock in a transaction dated 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 transaction, the insider directly owned 94,009 shares of the company’s stock, valued at approximately $192,718.45. This trade represents a 35.56% decrease in their position. 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 have acquired a total of 125,000 shares of company stock valued at $250,100 over the last ninety days. 0.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in Palisade Bio by 5,780.7% in the 4th quarter. Geode Capital Management LLC now owns 1,565,452 shares of the company’s stock worth $3,681,000 after purchasing an additional 1,538,832 shares during the period. Goldman Sachs Group Inc. bought a new stake in shares of Palisade Bio during the fourth quarter valued at approximately $1,310,000. TD Asset Management Inc bought a new stake in shares of Palisade Bio during the fourth quarter valued at approximately $480,000. WINTON GROUP Ltd purchased a new position in shares of Palisade Bio in the fourth quarter worth $35,000. Finally, Franklin Resources Inc. purchased a new position in shares of Palisade Bio in the fourth quarter worth $11,968,000. 11.79% of the stock is owned by hedge funds and other institutional investors.

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.