Insider Buying: Palisade Bio (NASDAQ:PALI) Director Acquires 25,000 Shares

Key Points

• Director buying spree: Palisade Bio director Robert Jr. Baltera bought 25,000 shares at $1.96 each for $49,000, bringing his total holdings to 461,904 shares. The purchase increased his position by 5.72% and follows several other buys earlier in the week.
• Stock and trading snapshot: PALI edged down 0.5% to $1.96 on Friday, with trading volume below average. The stock has ranged from a 52-week low of $0.53 to a high of $2.85.
• Fundamentals and outlook: The company recently reported a quarterly loss of $0.05 per share, missing analyst expectations by $0.01. Despite the loss, analysts currently have a Buy consensus rating and a $8.83 average price target.

Palisade Bio, Inc. (NASDAQ:PALI - Get Free Report) Director Robert Jr. Baltera acquired 25,000 shares of the business's stock in a transaction on Thursday, July 9th. The shares were purchased at an average cost of $1.96 per share, for a total transaction of $49,000.00. Following the completion of the transaction, the director owned 461,904 shares in the company, valued at approximately $905,331.84. This represents a 5.72% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Robert Jr. Baltera also recently made the following trade(s):

• On Wednesday, July 8th, Robert Jr. Baltera bought 20,000 shares of Palisade Bio stock. The stock was purchased at an average cost of $1.99 per share, with a total value of $39,800.00.
• On Tuesday, July 7th, Robert Jr. Baltera bought 30,000 shares of Palisade Bio stock. The stock was purchased at an average price of $2.03 per share, with a total value of $60,900.00.
• On Monday, July 6th, Robert Jr. Baltera purchased 20,000 shares of Palisade Bio stock. The shares were purchased at an average price of $2.05 per share, for a total transaction of $41,000.00.
• On Thursday, July 2nd, Robert Jr. Baltera purchased 10,000 shares of Palisade Bio stock. The stock was purchased at an average cost of $1.98 per share, for a total transaction of $19,800.00.
• On Wednesday, July 1st, Robert Jr. Baltera purchased 20,000 shares of Palisade Bio stock. The stock was purchased at an average cost of $1.98 per share, for a total transaction of $39,600.00.

Palisade Bio Trading Down 0.5%

Palisade Bio stock traded down $0.01 on Friday, hitting $1.96. 3,452,719 shares of the stock traded hands, compared to its average volume of 4,120,886. The firm has a market cap of $340.22 million, a P/E ratio of -1.94 and a beta of 1.50. The business's fifty day simple moving average is $1.92 and its 200 day simple moving average is $1.92. Palisade Bio, Inc. has a 1 year low of $0.53 and a 1 year high of $2.85.

Palisade Bio (NASDAQ:PALI - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01). As a group, analysts predict that Palisade Bio, Inc. will post -0.25 earnings per share for the current year.

Institutional Trading of Palisade Bio

Several institutional investors have recently added to or reduced their stakes in PALI. Perceptive Advisors LLC bought a new stake in shares of Palisade Bio in the 4th quarter worth $28,318,000. Commodore Capital LP bought a new position in shares of Palisade Bio during the fourth quarter valued at $26,896,000. Janus Henderson Group PLC boosted its position in shares of Palisade Bio by 1.4% during the first quarter. Janus Henderson Group PLC now owns 10,689,452 shares of the company's stock valued at $18,760,000 after buying an additional 149,118 shares during the last quarter. Octagon Capital Advisors LP boosted its position in shares of Palisade Bio by 7.4% during the first quarter. Octagon Capital Advisors LP now owns 10,276,317 shares of the company's stock valued at $17,984,000 after buying an additional 708,419 shares during the last quarter. Finally, RA Capital Management L.P. bought a new stake in Palisade Bio in the 4th quarter worth about $16,742,000. 11.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PALI shares. Weiss Ratings raised Palisade Bio from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, June 29th. Oppenheimer set a $7.00 target price on Palisade Bio in a report on Tuesday, June 30th. LADENBURG THALM/SH SH raised Palisade Bio to a "strong-buy" rating in a research note on Thursday, June 25th. Wolfe Research initiated coverage on Palisade Bio in a report on Thursday, April 9th. They set an "outperform" rating and a $7.00 price target for the company. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $2.00 price target on shares of Palisade Bio in a research report on Tuesday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $8.83.

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.

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.