Platinum Investment Management Ltd. acquired a new stake in shares of Palisade Bio, Inc. (NASDAQ:PALI – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 664,087 shares of the company’s stock, valued at approximately $1,561,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Jane Street Group LLC bought a new stake in shares of Palisade Bio during the fourth quarter valued at approximately $808,000. Commonwealth Equity Services LLC bought a new stake in shares of Palisade Bio during the fourth quarter valued at approximately $39,000. Renaissance Technologies LLC bought a new stake in shares of Palisade Bio during the fourth quarter valued at approximately $5,599,000. LPL Financial LLC bought a new stake in shares of Palisade Bio during the fourth quarter valued at approximately $36,000. Finally, Franklin Resources Inc. bought a new stake in shares of Palisade Bio during the fourth quarter valued at approximately $11,968,000. Institutional investors own 11.79% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the company. Wolfe Research assumed coverage on Palisade Bio in a report on Thursday, April 9th. They set an “outperform” rating and a $7.00 price objective for the company. Weiss Ratings downgraded Palisade Bio from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. HC Wainwright assumed coverage on Palisade Bio in a report on Thursday, March 26th. They set a “buy” rating and a $7.00 price objective for the company. Wall Street Zen upgraded Palisade Bio from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Stifel Nicolaus assumed coverage on Palisade Bio in a report on Wednesday, February 25th. They set a “buy” rating and a $5.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.20.
Palisade Bio Trading Down 3.9%
Shares of Palisade Bio stock opened at $1.71 on Friday. The stock has a fifty day simple moving average of $1.98 and a 200 day simple moving average of $1.92. Palisade Bio, Inc. has a 12-month low of $0.53 and a 12-month high of $2.86. The company has a market capitalization of $296.82 million, a P/E ratio of -1.69 and a beta of 1.52.
Palisade Bio (NASDAQ:PALI – Get Free Report) last announced its quarterly earnings results 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, analysts predict that Palisade Bio, Inc. will post -0.21 EPS for the current year.
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.
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