Short Interest in Palisade Bio, Inc. (NASDAQ:PALI) Rises By 20.2%

Palisade Bio, Inc. (NASDAQ:PALI) was the recipient of a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 25,352,984 shares, a growth of 20.2% from the January 29th total of 21,095,322 shares. Currently, 17.0% of the shares of the company are sold short. Based on an average daily trading volume, of 3,167,745 shares, the days-to-cover ratio is currently 8.0 days. Based on an average daily trading volume, of 3,167,745 shares, the days-to-cover ratio is currently 8.0 days. Currently, 17.0% of the shares of the company are sold short.

Hedge Funds Weigh In On Palisade Bio

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd bought a new stake in shares of Palisade Bio in the 4th quarter worth about $81,000. Seven Fleet Capital Management LP bought a new stake in Palisade Bio during the fourth quarter worth about $770,000. Virtu Financial LLC acquired a new stake in shares of Palisade Bio during the fourth quarter worth approximately $28,000. Creek Drive Management Group LLC bought a new position in shares of Palisade Bio in the fourth quarter valued at approximately $723,000. Finally, XTX Topco Ltd boosted its holdings in shares of Palisade Bio by 53.8% in the 4th quarter. XTX Topco Ltd now owns 21,669 shares of the company’s stock worth $51,000 after acquiring an additional 7,584 shares in the last quarter. Institutional investors own 11.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PALI. Clear Str upgraded Palisade Bio to a “strong-buy” rating in a report on Monday, December 29th. Citigroup reaffirmed a “buy” rating on shares of Palisade Bio in a research report on Tuesday, November 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Palisade Bio in a report on Thursday, January 22nd. Piper Sandler started coverage on shares of Palisade Bio in a research report on Monday, December 29th. They issued an “overweight” rating and a $25.00 price target on the stock. Finally, B. Riley Financial started coverage on shares of Palisade Bio in a report on Friday, January 9th. They set a “buy” rating and a $7.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Palisade Bio presently has an average rating of “Moderate Buy” and an average target price of $13.25.

Palisade Bio Price Performance

PALI opened at $1.69 on Wednesday. The company has a market capitalization of $251.81 million, a P/E ratio of -0.80 and a beta of 1.53. The firm’s fifty day moving average price is $1.85 and its two-hundred day moving average price is $1.60. Palisade Bio has a fifty-two week low of $0.53 and a fifty-two week high of $2.64.

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.