Short Interest in Palisade Bio, Inc. (NASDAQ:PALI) Increases By 97.0%

Palisade Bio, Inc. (NASDAQ:PALI) was the recipient of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 291,500 shares, an increase of 97.0% from the February 28th total of 148,000 shares. Approximately 10.6% of the company’s shares are short sold. Based on an average daily trading volume, of 566,700 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Investors Weigh In On Palisade Bio

A hedge fund recently bought a new stake in Palisade Bio stock. JPMorgan Chase & Co. purchased a new stake in Palisade Bio, Inc. (NASDAQ:PALI) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,200 shares of the company’s stock, valued at approximately $29,000. JPMorgan Chase & Co. owned approximately 0.54% of Palisade Bio as of its most recent SEC filing. 11.79% of the stock is currently owned by hedge funds and other institutional investors.

Palisade Bio Stock Performance

Palisade Bio stock traded up $0.01 during mid-day trading on Friday, reaching $0.70. The stock had a trading volume of 25,056 shares, compared to its average volume of 761,427. Palisade Bio has a fifty-two week low of $0.65 and a fifty-two week high of $9.65. The firm has a market capitalization of $1.94 million, a PE ratio of -0.05 and a beta of 1.49. The stock’s 50-day simple moving average is $1.04 and its 200-day simple moving average is $2.11.

Palisade Bio (NASDAQ:PALI) last announced its quarterly earnings results on Monday, March 24th. The company reported ($0.69) earnings per share for the quarter, beating the consensus estimate of ($2.39) by $1.70. On average, research analysts forecast that Palisade Bio will post -12.43 earnings per share for the current fiscal year.

Palisade Bio Company Profile

Palisade Bio, Inc, a clinical-stage biopharmaceutical company, focuses on focuses on developing therapeutics that protect the integrity of the intestinal barrier in the United States. The company's lead therapeutic candidate is PALI-2108, a prodrug PDE4 inhibitor, currently under pre-clinical development as a therapeutic for patients living with inflammatory bowel diseases, including ulcerative colitis and Crohn's disease (CD), as well as develops PALI-1908, an oral, selective PDE4 inhibitor prodrug that is locally bioactivated in the terminal ileum of CD patients, currently in the research stage.