Palisade Bio, Inc. $PALI Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP lifted its holdings in Palisade Bio, Inc. (NASDAQ:PALI) by 27.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,703,936 shares of the company’s stock after buying an additional 799,025 shares during the period. Wellington Management Group LLP owned approximately 2.13% of Palisade Bio worth $7,741,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Seven Fleet Capital Management LP lifted its stake in Palisade Bio by 27.7% in the 2nd quarter. Seven Fleet Capital Management LP now owns 272,204 shares of the company’s stock worth $569,000 after purchasing an additional 59,104 shares in the last quarter. Artia Global Partners LP acquired a new stake in shares of Palisade Bio in the second quarter valued at approximately $4,164,000. Bank of America Corp DE purchased a new position in Palisade Bio during the second quarter worth approximately $363,000. Jupiter Topco LLC purchased a new stake in Palisade Bio in the 2nd quarter valued at $22,394,000. Finally, ADAR1 Capital Management LLC purchased a new stake in Palisade Bio in the 2nd quarter valued at $3,609,000. Institutional investors and hedge funds own 11.79% of the company’s stock.

Insiders Place Their Bets

In other Palisade Bio news, insider Mitchell Jones sold 51,880 shares of the stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $2.05, for a total value of $106,354.00. Following the sale, the insider owned 94,009 shares of the company’s stock, valued at $192,718.45. This trade represents a 35.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Finley sold 146,798 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $2.07, for a total value of $303,871.86. Following the transaction, the chief executive officer directly owned 217,555 shares of the company’s stock, valued at approximately $450,338.85. This represents a 40.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have purchased a total of 125,000 shares of company stock worth $250,100 in the last quarter. 0.07% of the stock is owned by company insiders.

Palisade Bio Stock Up 5.3%

Palisade Bio stock opened at $2.20 on Wednesday. The firm has a market cap of $383.40 million, a PE ratio of -4.58 and a beta of 1.53. Palisade Bio, Inc. has a 52-week low of $0.53 and a 52-week high of $2.86. The company’s 50 day moving average is $2.03 and its two-hundred day moving average is $1.96.

Palisade Bio (NASDAQ:PALI) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $0.50 million. On average, equities research analysts anticipate that Palisade Bio, Inc. will post -0.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PALI has been the subject of several recent analyst reports. Weiss Ratings cut shares of Palisade Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 14th. Wall Street Zen raised Palisade Bio from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Oppenheimer assumed coverage on Palisade Bio in a research note on Thursday, July 23rd. They set an “outperform” rating and a $8.00 price target on the stock. HC Wainwright restated a “buy” rating and set a $2.00 price target on shares of Palisade Bio in a research report on Tuesday, June 30th. Finally, LADENBURG THALM/SH SH upgraded Palisade Bio to a “strong-buy” rating in a report on Thursday, June 25th. Two research 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $9.00.

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.