10,436,760 Shares in Palisade Bio, Inc. $PALI Bought by BlackRock Inc.

Key Points

• BlackRock acquired 10.44 million Palisade Bio shares worth approximately $21.8 million, giving it a 6.01% stake. Institutional investors collectively own 11.79% of the company.
• Analyst sentiment is generally positive: Palisade Bio has a consensus “Buy” rating and an average price target of $9, including Oppenheimer’s $8 target, despite one sell rating.
• PALI shares opened at $1.99, while the company reported quarterly revenue of $0.50 million and a loss of $0.05 per share, in line with analyst estimates. CEO John David Finley sold shares for tax obligations, while a director purchased 30,000 shares.

BlackRock Inc. purchased a new stake in Palisade Bio, Inc. (NASDAQ:PALI - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,436,760 shares of the company's stock, valued at approximately $21,813,000. BlackRock Inc. owned approximately 6.01% of Palisade Bio as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jefferies Financial Group Inc. acquired a new stake in Palisade Bio during the fourth quarter worth about $110,000. Geode Capital Management LLC raised its position in shares of Palisade Bio by 5,780.7% in the 4th 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 in the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of Palisade Bio in the 4th quarter valued at approximately $1,310,000. TD Asset Management Inc bought a new stake in shares of Palisade Bio during the 4th quarter worth approximately $480,000. Finally, WINTON GROUP Ltd bought a new stake in shares of Palisade Bio during the 4th quarter worth approximately $35,000. Institutional investors own 11.79% of the company's stock.

Analysts Set New Price Targets

PALI has been the topic of several analyst reports. LADENBURG THALM/SH SH upgraded shares of Palisade Bio to a "strong-buy" rating in a research report on Thursday, June 25th. HC Wainwright restated a "buy" rating and set a $2.00 price objective on shares of Palisade Bio in a research report on Tuesday, June 30th. Weiss Ratings cut Palisade Bio from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, July 14th. Wall Street Zen raised Palisade Bio from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. Finally, Oppenheimer began coverage on Palisade Bio in a research note on Thursday, July 23rd. They issued an "outperform" rating and a $8.00 price target on the stock. Two equities research 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $9.00.

Insider Activity

In related news, CEO John David Finley sold 146,798 shares of Palisade Bio stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $2.07, for a total transaction of $303,871.86. Following the sale, the chief executive officer directly owned 217,555 shares in the company, valued at $450,338.85. This trade represents a 40.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Robert Jr. Baltera bought 30,000 shares of Palisade Bio stock in a transaction on Tuesday, July 7th. The shares were acquired at an average cost of $2.03 per share, for a total transaction of $60,900.00. Following the completion of the acquisition, the director directly owned 416,904 shares in the company, valued at approximately $846,315.12. The trade was a 7.75% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 125,000 shares of company stock valued at $250,100 over the last quarter. 0.07% of the stock is owned by company insiders.

Palisade Bio Stock Up 1.5%

Shares of PALI stock opened at $1.99 on Thursday. Palisade Bio, Inc. has a twelve month low of $0.53 and a twelve month high of $2.85. The stock's fifty day simple moving average is $2.02 and its 200 day simple moving average is $1.95. The firm has a market capitalization of $346.80 million, a P/E ratio of -4.15 and a beta of 1.53.

Palisade Bio (NASDAQ:PALI - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $0.50 million during the quarter, compared to the consensus estimate of $0.50 million. As a group, equities research analysts expect that Palisade Bio, Inc. will post -0.23 EPS for the current fiscal year.

Palisade Bio Company 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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