305,000 Shares in Palisade Bio, Inc. $PALI Acquired by BIT Capital GmbH

BIT Capital GmbH acquired a new position in Palisade Bio, Inc. (NASDAQ:PALI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 305,000 shares of the company’s stock, valued at approximately $717,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in 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 buying an additional 1,538,832 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in Palisade Bio in the fourth quarter worth approximately $1,310,000. TD Asset Management Inc acquired a new position in Palisade Bio during the fourth quarter valued at approximately $480,000. Jefferies Financial Group Inc. acquired a new position in Palisade Bio during the fourth quarter valued at approximately $110,000. Finally, Total Clarity Wealth Management Inc. acquired a new position in Palisade Bio during the fourth quarter valued at approximately $70,000. Institutional investors and hedge funds own 11.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PALI. Wall Street Zen upgraded Palisade Bio from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. HC Wainwright began coverage on Palisade Bio in a report on Thursday, March 26th. They set a “buy” rating and a $7.00 price target on the stock. Stifel Nicolaus began coverage on Palisade Bio in a report on Wednesday, February 25th. They set a “buy” rating and a $5.00 price target on the stock. Finally, 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 on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.20.

Palisade Bio Trading Down 9.8%

Shares of Palisade Bio stock opened at $1.74 on Friday. The company’s fifty day simple moving average is $2.00 and its 200-day simple moving average is $1.93. The company has a market cap of $302.03 million, a price-to-earnings ratio of -1.72 and a beta of 1.52. Palisade Bio, Inc. has a 1 year low of $0.53 and a 1 year high of $2.86.

Palisade Bio (NASDAQ:PALI) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). As a group, research analysts forecast that Palisade Bio, Inc. will post -0.21 earnings per share for the current fiscal year.

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.