Wellington Management Group LLP Boosts Stock Position in Palisade Bio, Inc. $PALI

Wellington Management Group LLP raised its holdings in Palisade Bio, Inc. (NASDAQ:PALI) by 27.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,703,936 shares of the company’s stock after buying an additional 799,025 shares during the period. Wellington Management Group LLP’s holdings in Palisade Bio were worth $7,741,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Cetera Investment Advisers acquired a new position in shares of Palisade Bio during the 4th quarter worth about $25,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Palisade Bio during the 4th quarter worth about $26,000. Virtu Financial LLC acquired a new stake in shares of Palisade Bio during the 4th quarter worth about $28,000. Legal & General Group Plc purchased a new stake in Palisade Bio during the second quarter worth approximately $30,000. Finally, CTC Alternative Strategies Ltd. purchased a new stake in Palisade Bio during the first quarter worth approximately $31,000. 11.79% of the stock is owned by hedge funds and other institutional investors.

Palisade Bio Stock Up 5.3%

Shares of NASDAQ PALI opened at $2.20 on Wednesday. The business has a 50-day moving average price of $2.03 and a 200 day moving average price of $1.96. The stock has a market cap of $383.40 million, a PE ratio of -4.58 and a beta of 1.53. Palisade Bio, Inc. has a 52-week low of $0.53 and a 52-week high of $2.86.

Palisade Bio (NASDAQ:PALI) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $0.50 million for the quarter, compared to analyst estimates of $0.50 million. Sell-side analysts anticipate that Palisade Bio, Inc. will post -0.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Weiss Ratings lowered shares of Palisade Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 14th. Wall Street Zen upgraded shares of Palisade Bio from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Oppenheimer initiated coverage on shares of Palisade Bio in a report on Thursday, July 23rd. They issued an “outperform” rating and a $8.00 target price for the company. LADENBURG THALM/SH SH raised shares of Palisade Bio to a “strong-buy” rating in a research report on Thursday, June 25th. Finally, HC Wainwright reiterated a “buy” rating and set a $2.00 price target on shares of Palisade Bio in a research note on Tuesday, June 30th. 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. Based on data from MarketBeat.com, Palisade Bio has a consensus rating of “Buy” and an average target price of $9.00.

Insider Activity

In related news, insider Mitchell Jones sold 51,880 shares of the company’s 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 sale, the insider owned 94,009 shares in the company, valued at $192,718.45. This represents a 35.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Robert Baltera purchased 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were acquired at an average price of $1.96 per share, with a total value of $49,000.00. Following the purchase, the director owned 461,904 shares in the company, valued at $905,331.84. This trade represents a 5.72% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders bought 125,000 shares of company stock valued at $250,100. 0.07% of the stock is currently owned by company insiders.

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.