Palisade Bio (NASDAQ:PALI) CEO John David Finley Sells 146,798 Shares of Stock

Key Points

• Palisade Bio CEO John David Finley sold 146,798 shares on July 7 at an average price of $2.07, totaling about $303,872. The sale reduced his stake by 40.29% and was made to cover tax withholding obligations tied to vested equity awards.
• The stock was slightly down in recent trading, with PALI last reported at $2.05 and a market cap of about $355.84 million. The shares have traded between $0.53 and $2.86 over the past year.
• Analysts remain generally upbeat despite recent losses: the company missed its latest quarterly EPS estimate, but Wall Street currently has a consensus “Buy” rating with an average target price of $8.83. Several firms also recently issued or adjusted bullish ratings on the stock.

Palisade Bio, Inc. (NASDAQ:PALI - Get Free Report) CEO John David Finley sold 146,798 shares of Palisade Bio stock in a transaction 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 transaction, the chief executive officer owned 217,555 shares in the company, valued at $450,338.85. The trade was a 40.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Palisade Bio Price Performance

NASDAQ PALI traded down $0.03 during trading hours on Wednesday, hitting $2.05. The company had a trading volume of 3,270,900 shares, compared to its average volume of 4,120,142. The firm's 50 day moving average is $1.91 and its 200 day moving average is $1.92. Palisade Bio, Inc. has a fifty-two week low of $0.53 and a fifty-two week high of $2.86. The company has a market capitalization of $355.84 million, a price-to-earnings ratio of -2.03 and a beta of 1.50.

Palisade Bio (NASDAQ:PALI - Get Free Report) last issued its earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). On average, equities analysts anticipate that Palisade Bio, Inc. will post -0.25 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PALI. Wolfe Research initiated coverage on shares of Palisade Bio in a research report on Thursday, April 9th. They issued an "outperform" rating and a $7.00 price objective for the company. Oppenheimer set a $7.00 target price on shares of Palisade Bio in a research note on Tuesday, June 30th. Wall Street Zen raised shares of Palisade Bio from a "sell" rating to a "hold" rating in a report on Sunday. Weiss Ratings raised shares of Palisade Bio from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, June 29th. Finally, LADENBURG THALM/SH SH upgraded shares of Palisade Bio to a "strong-buy" rating in a report on Thursday, June 25th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $8.83.

Institutional Investors Weigh In On Palisade Bio

Several hedge funds and other institutional investors have recently bought and sold shares of PALI. Cetera Investment Advisers purchased a new position in shares of Palisade Bio during the 4th quarter valued at approximately $25,000. Schonfeld Strategic Advisors LLC bought a new position in Palisade Bio during the 4th quarter valued at $26,000. Virtu Financial LLC bought a new position in Palisade Bio during the 4th quarter valued at $28,000. Atom Investors LP acquired a new position in Palisade Bio during the 4th quarter worth $33,000. Finally, Barclays PLC acquired a new position in Palisade Bio during the 4th quarter worth $35,000. 11.79% of the stock is currently owned by hedge funds and other institutional investors.

About Palisade Bio

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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