Palisade Bio (NASDAQ:PALI) Releases Quarterly Earnings Results, Hits Expectations

Key Points

• Palisade Bio met earnings expectations, reporting a quarterly loss of $0.05 per share and revenue of $0.50 million.
• The stock edged down 0.5% to $2.10, while analysts maintained an overall “Buy” consensus with an average price target of $9.00.
• Insider activity was mixed: an insider sold shares to cover tax obligations, while a director purchased 25,000 shares; institutional ownership stands at 11.79%.

Palisade Bio (NASDAQ:PALI - Get Free Report) released its quarterly earnings data on Monday. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05), FiscalAI reports. The company had revenue of $0.50 million during the quarter.

Palisade Bio Stock Down 0.5%

Palisade Bio stock traded down $0.01 during mid-day trading on Monday, reaching $2.10. 836,774 shares of the company's stock were exchanged, compared to its average volume of 3,843,239. The business's fifty day simple moving average is $1.93 and its 200 day simple moving average is $1.91. Palisade Bio has a one year low of $0.53 and a one year high of $2.86. The firm has a market capitalization of $364.52 million, a PE ratio of -2.08 and a beta of 1.52.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. LADENBURG THALM/SH SH upgraded shares of Palisade Bio to a "strong-buy" rating in a report on Thursday, June 25th. Weiss Ratings lowered Palisade Bio from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, July 14th. Oppenheimer started coverage on Palisade Bio in a research report on Thursday, July 23rd. They set an "outperform" rating and a $8.00 target price on the stock. Wall Street Zen raised shares of Palisade Bio from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. Finally, HC Wainwright reissued a "buy" rating and set a $2.00 target price on shares of Palisade Bio in a research report on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $9.00.

Insider Activity

In related news, insider Mitchell Lawrence Jones sold 51,880 shares of the firm's stock in a transaction dated 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 sale, the insider owned 94,009 shares in the company, valued at approximately $192,718.45. This trade represents a 35.56% decrease in their ownership of the stock. 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. Also, Director Robert Jr. Baltera acquired 25,000 shares of the stock in a transaction on Thursday, July 9th. The stock was bought at an average cost of $1.96 per share, for a total transaction of $49,000.00. Following the transaction, the director owned 461,904 shares of the company's stock, valued at approximately $905,331.84. This trade represents a 5.72% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 125,000 shares of company stock valued at $250,100 in the last ninety days. 0.07% of the stock is currently owned by insiders.

Institutional Trading of Palisade Bio

Several hedge funds have recently made changes to their positions in PALI. Cetera Investment Advisers purchased a new stake in Palisade Bio in the 4th quarter worth about $25,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Palisade Bio during the 4th quarter valued at approximately $26,000. Virtu Financial LLC bought a new position in Palisade Bio in the 4th quarter worth approximately $28,000. Atom Investors LP purchased a new position in Palisade Bio in the 4th quarter valued at approximately $33,000. Finally, WINTON GROUP Ltd bought a new stake in Palisade Bio during the 4th quarter valued at $35,000. 11.79% of the stock is currently owned by 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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