Palisade Bio (NASDAQ:PALI) Posts Earnings Results, Hits Estimates

Palisade Bio (NASDAQ:PALI) posted its quarterly earnings data on Monday. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05), FiscalAI reports. The company had revenue of $0.50 million for the quarter.

Palisade Bio Stock Down 0.5%

Palisade Bio stock opened at $2.10 on Tuesday. The company has a market cap of $364.52 million, a PE ratio of -2.08 and a beta of 1.52. Palisade Bio has a twelve month low of $0.53 and a twelve month high of $2.86. The company’s 50-day moving average price is $1.93 and its 200-day moving average price is $1.91.

Insiders Place Their Bets

In other Palisade Bio news, Director Robert Jr. Baltera bought 30,000 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was acquired at an average cost of $2.03 per share, for a total transaction of $60,900.00. Following the completion of the transaction, the director owned 416,904 shares in the company, valued at $846,315.12. This trade represents a 7.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mitchell Lawrence Jones sold 51,880 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $2.05, for a total transaction of $106,354.00. Following the sale, the insider directly owned 94,009 shares of the company’s stock, valued at $192,718.45. This represents a 35.56% decrease in their ownership of the stock. 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. Insiders bought 125,000 shares of company stock valued at $250,100 over the last three months. 0.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palisade Bio

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PALI shares. LADENBURG THALM/SH SH raised shares of Palisade Bio to a “strong-buy” rating in a report on Thursday, June 25th. Weiss Ratings cut 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 assumed coverage on shares of Palisade Bio in a research note on Thursday, July 23rd. They set an “outperform” rating and a $8.00 target price on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $2.00 target price on shares of Palisade Bio in a report on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Palisade Bio currently has a consensus rating of “Buy” and a consensus price target of $9.00.

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.