Octagon Capital Advisors LP Grows Stock Position in Palisade Bio, Inc. $PALI

Octagon Capital Advisors LP increased its stake in Palisade Bio, Inc. (NASDAQ:PALI) by 7.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,276,317 shares of the company’s stock after buying an additional 708,419 shares during the quarter. Palisade Bio comprises approximately 2.0% of Octagon Capital Advisors LP’s holdings, making the stock its 16th largest holding. Octagon Capital Advisors LP owned approximately 0.06% of Palisade Bio worth $17,984,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of PALI. Perceptive Advisors LLC bought a new position in Palisade Bio during the fourth quarter valued at $28,318,000. Commodore Capital LP bought a new stake in shares of Palisade Bio in the 4th quarter worth about $26,896,000. Janus Henderson Group PLC bought a new stake in shares of Palisade Bio in the 4th quarter worth about $24,822,000. RA Capital Management L.P. purchased a new position in shares of Palisade Bio during the 4th quarter worth about $16,742,000. Finally, Eversept Partners LP bought a new position in Palisade Bio during the 4th quarter valued at about $12,670,000. 11.79% of the stock is owned by hedge funds and other institutional investors.

Palisade Bio Price Performance

Shares of NASDAQ:PALI opened at $1.95 on Monday. Palisade Bio, Inc. has a 52-week low of $0.53 and a 52-week high of $2.86. The stock has a market cap of $338.48 million, a P/E ratio of -1.93 and a beta of 1.50. The business’s 50 day moving average is $1.92 and its 200 day moving average is $1.89.

Palisade Bio (NASDAQ:PALI) last issued its earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). On average, sell-side analysts anticipate that Palisade Bio, Inc. will post -0.24 EPS for the current fiscal year.

Insider Activity

In related news, CEO John David Finley sold 146,798 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $2.07, for a total value of $303,871.86. Following the completion of the sale, the chief executive officer directly owned 217,555 shares of the company’s stock, valued at $450,338.85. This represents a 40.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mitchell Lawrence Jones sold 51,880 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $2.05, for a total transaction of $106,354.00. Following the transaction, the insider directly owned 94,009 shares in the company, valued at $192,718.45. This trade represents a 35.56% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have bought 125,000 shares of company stock worth $250,100. Company insiders own 0.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PALI. LADENBURG THALM/SH SH raised shares of Palisade Bio to a “strong-buy” rating in a research report on Thursday, June 25th. HC Wainwright reiterated a “buy” rating and issued a $2.00 price target on shares of Palisade Bio in a report on Tuesday, June 30th. Wall Street Zen raised Palisade Bio from a “sell” rating to a “hold” rating in a research note on Saturday. Wolfe Research began coverage on Palisade Bio in a report on Thursday, April 9th. They set an “outperform” rating and a $7.00 price objective for the company. Finally, Weiss Ratings cut Palisade Bio from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $9.00.

Palisade Bio Profile

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.