Palisade Bio, Inc. (NASDAQ:PALI) Sees Large Decrease in Short Interest

Palisade Bio, Inc. (NASDAQ:PALI) saw a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 66,300 shares, a drop of 96.4% from the December 15th total of 1,840,000 shares. Based on an average daily trading volume, of 1,270,000 shares, the short-interest ratio is presently 0.1 days. Approximately 2.4% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Maxim Group decreased their price target on shares of Palisade Bio from $22.50 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Brookline Capital Management started coverage on Palisade Bio in a research report on Wednesday, November 20th. They set a “buy” rating and a $38.00 target price for the company.

Palisade Bio Stock Performance

Palisade Bio stock traded down $0.08 during midday trading on Tuesday, hitting $1.75. 249,795 shares of the company’s stock were exchanged, compared to its average volume of 423,926. The company has a market cap of $4.84 million, a PE ratio of -0.13 and a beta of 1.42. The firm has a 50-day moving average of $2.07 and a two-hundred day moving average of $3.14. Palisade Bio has a 12 month low of $1.38 and a 12 month high of $22.35.

Palisade Bio (NASDAQ:PALI) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($2.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.35) by $1.03. As a group, equities analysts expect that Palisade Bio will post -12.43 earnings per share for the current year.

Institutional Trading of Palisade Bio

A hedge fund recently bought a new stake in Palisade Bio stock. JPMorgan Chase & Co. acquired a new position in shares of Palisade Bio, Inc. (NASDAQ:PALI) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 8,200 shares of the company’s stock, valued at approximately $29,000. JPMorgan Chase & Co. owned approximately 0.54% of Palisade Bio as of its most recent SEC filing. Hedge funds and other 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 PALI-2108, a prodrug PDE4 inhibitor, currently under pre-clinical development as a therapeutic for patients living with inflammatory bowel diseases, including ulcerative colitis and Crohn's disease (CD), as well as develops PALI-1908, an oral, selective PDE4 inhibitor prodrug that is locally bioactivated in the terminal ileum of CD patients, currently in the research stage.