Palisade Bio, Inc. (NASDAQ:PALI) Short Interest Down 96.4% in December

Palisade Bio, Inc. (NASDAQ:PALI) saw a significant decrease in short interest in December. As of December 31st, there was short interest totalling 66,300 shares, a decrease of 96.4% from the December 15th total of 1,840,000 shares. Currently, 2.4% of the company’s shares are short sold. Based on an average trading volume of 1,270,000 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PALI. Maxim Group lowered their price objective on Palisade Bio from $22.50 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Brookline Capital Management initiated coverage on Palisade Bio in a research report on Wednesday, November 20th. They set a “buy” rating and a $38.00 price objective on the stock.

Institutional Trading of Palisade Bio

A hedge fund recently bought a new stake in Palisade Bio stock. JPMorgan Chase & Co. acquired a new position in Palisade Bio, Inc. (NASDAQ:PALI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 8,200 shares of the company’s stock, valued at approximately $29,000. JPMorgan Chase & Co. owned about 0.54% of Palisade Bio at the end of the most recent reporting period. Institutional investors and hedge funds own 11.79% of the company’s stock.

Palisade Bio Stock Performance

Shares of PALI traded down $0.08 during midday trading on Tuesday, hitting $1.75. 249,795 shares of the company traded hands, compared to its average volume of 423,926. The stock has a market cap of $4.84 million, a price-to-earnings ratio of -0.13 and a beta of 1.42. The firm has a 50 day moving average of $2.07 and a 200-day moving average of $3.14. Palisade Bio has a 52 week low of $1.38 and a 52 week high of $22.35.

Palisade Bio (NASDAQ:PALI) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($2.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.35) by $1.03. Sell-side analysts predict 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.