Palisade Bio (NASDAQ:PALI) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Palisade Bio (NASDAQ:PALI) from a hold rating to a sell rating in a research report sent to investors on Saturday.

A number of other analysts also recently weighed in on PALI. Piper Sandler assumed coverage on Palisade Bio in a research report on Monday, December 29th. They issued an “overweight” rating and a $25.00 target price for the company. Clear Str raised shares of Palisade Bio to a “strong-buy” rating in a research note on Monday, December 29th. Citigroup reaffirmed a “buy” rating on shares of Palisade Bio in a research note on Tuesday, November 11th. 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 target price on the stock. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Palisade Bio in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Palisade Bio Price Performance

Shares of NASDAQ:PALI opened at $1.72 on Friday. The firm has a market capitalization of $256.28 million, a price-to-earnings ratio of -0.81 and a beta of 1.58. Palisade Bio has a one year low of $0.53 and a one year high of $2.64. The company’s fifty day moving average price is $1.90 and its 200-day moving average price is $1.52.

Palisade Bio (NASDAQ:PALI) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.06). As a group, equities research analysts expect that Palisade Bio will post -12.43 EPS for the current year.

Hedge Funds Weigh In On Palisade Bio

A number of hedge funds have recently modified their holdings of the company. Total Clarity Wealth Management Inc. purchased a new stake in shares of Palisade Bio during the fourth quarter worth about $70,000. Jefferies Financial Group Inc. bought a new position in Palisade Bio during the 4th quarter valued at approximately $110,000. Finally, Geode Capital Management LLC lifted its holdings in Palisade Bio by 5,780.7% in the 4th 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 period. Hedge funds and other 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.