Eversept Partners LP Has $8.73 Million Stock Holdings in Palisade Bio, Inc. $PALI

Eversept Partners LP trimmed its position in Palisade Bio, Inc. (NASDAQ:PALI) by 7.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 4,987,499 shares of the company’s stock after selling 404,049 shares during the period. Eversept Partners LP owned about 2.87% of Palisade Bio worth $8,728,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Orbimed Advisors LLC lifted its stake in shares of Palisade Bio by 24.7% during the first quarter. Orbimed Advisors LLC now owns 2,333,000 shares of the company’s stock valued at $4,083,000 after acquiring an additional 461,580 shares during the period. Octagon Capital Advisors LP increased its position in Palisade Bio by 7.4% in the first quarter. Octagon Capital Advisors LP now owns 10,276,317 shares of the company’s stock worth $17,984,000 after purchasing an additional 708,419 shares during the period. Pale Fire Capital SE increased its position in Palisade Bio by 57.6% in the first quarter. Pale Fire Capital SE now owns 111,410 shares of the company’s stock worth $195,000 after purchasing an additional 40,700 shares during the period. Simplify Asset Management Inc. bought a new stake in Palisade Bio during the 1st quarter worth about $612,000. Finally, Creek Drive Management Group LLC bought a new stake in Palisade Bio during the 4th quarter worth about $723,000. Institutional investors own 11.79% of the company’s stock.

Wall Street Analyst Weigh In

PALI has been the topic of several recent research reports. Wall Street Zen raised shares of Palisade Bio from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings downgraded shares of Palisade Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 14th. Wolfe Research began coverage on shares of Palisade Bio in a report on Thursday, April 9th. They issued an “outperform” rating and a $7.00 price objective on the stock. Oppenheimer assumed coverage on shares of Palisade Bio in a report on Thursday. They issued an “outperform” rating and a $8.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $2.00 price objective 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 assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Palisade Bio presently has an average rating of “Buy” and an average price target of $9.00.

Palisade Bio Stock Performance

Shares of PALI opened at $2.03 on Tuesday. The firm has a market cap of $352.37 million, a P/E ratio of -2.01 and a beta of 1.50. Palisade Bio, Inc. has a twelve month low of $0.53 and a twelve month high of $2.85. The firm’s 50 day moving average price is $1.93 and its two-hundred day moving average price is $1.90.

Palisade Bio (NASDAQ:PALI) last issued 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). On average, sell-side analysts anticipate that Palisade Bio, Inc. will post -0.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert Jr. Baltera bought 30,000 shares of the stock in a transaction on Tuesday, July 7th. The stock was purchased at an average price of $2.03 per share, for a total transaction of $60,900.00. Following the acquisition, the director owned 416,904 shares in the company, valued at approximately $846,315.12. This trade represents a 7.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mitchell Lawrence Jones sold 51,880 shares of Palisade Bio stock in a transaction dated 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 directly owned 94,009 shares in the company, valued at $192,718.45. This represents a 35.56% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders bought 125,000 shares of company stock worth $250,100. Corporate insiders own 0.07% of the company’s stock.

Palisade Bio 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.