ADAR1 Capital Management LLC Makes New Investment in Palisade Bio, Inc. $PALI

Key Points

• ADAR1 Capital Management acquired 1.73 million Palisade Bio shares worth approximately $3.6 million, representing about 0.99% of the company. Institutional investors and hedge funds collectively own 11.79% of PALI.
• Analyst sentiment is broadly positive: Palisade Bio has an average “Buy” rating and a $9.00 consensus price target, despite one downgrade to “Sell.” Oppenheimer initiated coverage with an “Outperform” rating and an $8.00 target.
• PALI shares opened at $2.07, near their 50-day and 200-day moving averages. The company reported quarterly revenue of $500,000 and an adjusted loss of $0.05 per share, matching analyst estimates.

ADAR1 Capital Management LLC purchased a new stake in Palisade Bio, Inc. (NASDAQ:PALI - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,726,662 shares of the company's stock, valued at approximately $3,609,000. ADAR1 Capital Management LLC owned approximately 0.99% of Palisade Bio at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Total Clarity Wealth Management Inc. bought a new stake in Palisade Bio in the 4th quarter valued at approximately $70,000. Jefferies Financial Group Inc. acquired a new stake in shares of Palisade Bio in the fourth quarter valued at approximately $110,000. Geode Capital Management LLC lifted its position in shares of Palisade Bio by 5,780.7% in the fourth quarter. Geode Capital Management LLC now owns 1,565,452 shares of the company's stock worth $3,681,000 after purchasing an additional 1,538,832 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of Palisade Bio in the fourth quarter worth $1,310,000. Finally, TD Asset Management Inc acquired a new position in Palisade Bio during the fourth quarter worth $480,000. 11.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Palisade Bio

In related news, insider Mitchell Lawrence Jones sold 51,880 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 94,009 shares in the company, valued at $192,718.45. This represents a 35.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John David Finley sold 146,798 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $2.07, for a total value of $303,871.86. Following the completion of the transaction, the chief executive officer owned 217,555 shares of the company's stock, valued at $450,338.85. The trade was a 40.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders bought a total of 125,000 shares of company stock worth $250,100 over the last three months. Corporate insiders own 0.07% of the company's stock.

Wall Street Analysts Forecast Growth

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

Palisade Bio Stock Up 3.0%

Shares of PALI stock opened at $2.07 on Wednesday. The firm has a 50 day moving average price of $2.00 and a two-hundred day moving average price of $1.94. The company has a market capitalization of $360.74 million, a PE ratio of -4.31 and a beta of 1.52. Palisade Bio, Inc. has a 12-month low of $0.53 and a 12-month high of $2.86.

Palisade Bio (NASDAQ:PALI - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $0.50 million for the quarter, compared to the consensus estimate of $0.50 million. As a group, research analysts expect that Palisade Bio, Inc. will post -0.23 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.

Want to see what other hedge funds are holding PALI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palisade Bio, Inc. (NASDAQ:PALI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source