Maxim Group Reaffirms “Buy” Rating for Palisade Bio (NASDAQ:PALI)

Palisade Bio (NASDAQ:PALI)‘s stock had its “buy” rating reiterated by Maxim Group in a research note issued on Tuesday, Benzinga reports. They currently have a $22.50 price objective on the stock. Maxim Group’s target price would suggest a potential upside of 240.91% from the company’s current price.

Palisade Bio Stock Up 11.3 %

PALI stock opened at $6.60 on Tuesday. Palisade Bio has a twelve month low of $3.82 and a twelve month high of $36.60. The stock has a market capitalization of $5.62 million, a price-to-earnings ratio of -0.24 and a beta of 1.33. The firm’s fifty day simple moving average is $5.86 and its two-hundred day simple moving average is $7.64.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PALI. Renaissance Technologies LLC increased its position in Palisade Bio by 1,396.0% during the third quarter. Renaissance Technologies LLC now owns 512,070 shares of the company’s stock valued at $51,000 after acquiring an additional 477,840 shares during the last quarter. Virtu Financial LLC bought a new position in Palisade Bio during the fourth quarter valued at $31,000. Geode Capital Management LLC bought a new position in Palisade Bio during the second quarter valued at $72,000. Vanguard Group Inc. boosted its stake in shares of Palisade Bio by 91.3% during the third quarter. Vanguard Group Inc. now owns 68,054 shares of the company’s stock valued at $40,000 after purchasing an additional 32,485 shares during the period. Finally, State Street Corp purchased a new stake in shares of Palisade Bio during the second quarter valued at $38,000. Institutional investors own 11.79% of the company’s stock.

About Palisade Bio

Palisade Bio, Inc, a clinical-stage biopharmaceutical company, focuses on focuses on developing therapeutics that protect the integrity of the intestinal barrier in the United States. The company's lead therapeutic candidate is LB1148, an oral liquid formulation of the digestive enzyme inhibitor tranexamic acid to reduce the formation of postoperative adhesions, postoperative ileus, and return of bowel function in adults.