Palisade Bio (NASDAQ:PALI) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Palisade Bio from “sell” to “hold”, adding to a generally bullish analyst backdrop. The stock now has a consensus Buy rating and an average $9.00 price target from MarketBeat data.
• The shares were down 3.5% and opened at $1.95, while the company reported a recent quarterly EPS of ($0.05), slightly missing estimates. Palisade Bio also carries a market cap of about $338.5 million and has traded between $0.53 and $2.86 over the past year.
• There was notable insider selling on July 7, including sales by CEO John David Finley and insider Mitchell Lawrence Jones, both tied to tax withholding from equity vesting. At the same time, institutional investors remain active, with several funds increasing positions in the stock.

Palisade Bio (NASDAQ:PALI - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

Several other equities analysts have also issued reports on the company. Oppenheimer assumed coverage on Palisade Bio in a research report on Thursday. They issued an "outperform" rating and a $8.00 price objective for the company. Weiss Ratings downgraded shares of Palisade Bio from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, July 14th. Wolfe Research began coverage on shares of Palisade Bio in a research note on Thursday, April 9th. They issued an "outperform" rating and a $7.00 price target on the stock. LADENBURG THALM/SH SH upgraded shares of Palisade Bio to a "strong-buy" rating in a report on Thursday, June 25th. Finally, HC Wainwright reissued a "buy" rating and set a $2.00 price objective 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, seven have given a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $9.00.

Palisade Bio Trading Down 3.5%

Shares of Palisade Bio stock opened at $1.95 on Friday. The stock's fifty day simple moving average is $1.92 and its 200 day simple moving average is $1.90. The company has a market capitalization of $338.48 million, a PE ratio of -1.93 and a beta of 1.50. Palisade Bio 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 earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01). Analysts predict that Palisade Bio will post -0.25 EPS for the current fiscal year.

Insider Buying and Selling at Palisade Bio

In other Palisade Bio news, insider Mitchell Lawrence Jones sold 51,880 shares of the company's stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $2.05, for a total transaction of $106,354.00. Following the completion of the transaction, the insider owned 94,009 shares of the company's stock, valued at $192,718.45. This represents a 35.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 firm's stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $2.07, for a total transaction of $303,871.86. Following the transaction, the chief executive officer directly owned 217,555 shares of the company's stock, valued at $450,338.85. This represents a 40.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have bought 125,000 shares of company stock worth $250,100. Corporate insiders own 0.07% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. CTC Alternative Strategies Ltd. bought a new stake in Palisade Bio during the 1st quarter worth about $31,000. Bank of America Corp DE grew its holdings in shares of Palisade Bio by 181.1% in the 1st quarter. Bank of America Corp DE now owns 197,074 shares of the company's stock valued at $345,000 after acquiring an additional 126,977 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Palisade Bio by 1.4% in the 1st quarter. Janus Henderson Group PLC now owns 10,689,452 shares of the company's stock valued at $18,760,000 after acquiring an additional 149,118 shares in the last quarter. ADAR1 Capital Management LLC increased its position in shares of Palisade Bio by 13.0% in the first quarter. ADAR1 Capital Management LLC now owns 2,264,845 shares of the company's stock valued at $3,963,000 after acquiring an additional 260,000 shares during the last quarter. Finally, Orbimed Advisors LLC increased its position in shares of Palisade Bio by 24.7% in the first quarter. Orbimed Advisors LLC now owns 2,333,000 shares of the company's stock valued at $4,083,000 after acquiring an additional 461,580 shares during the last quarter. Institutional investors own 11.79% of the company's stock.

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.

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.