Palisade Bio, Inc. (NASDAQ:PALI) Short Interest Update

Palisade Bio, Inc. (NASDAQ:PALI) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 1,840,000 shares, a growth of 1,610.0% from the November 30th total of 107,600 shares. Approximately 67.7% of the company’s stock are short sold. Based on an average daily volume of 1,220,000 shares, the days-to-cover ratio is currently 1.5 days.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Maxim Group lowered their price target on shares of Palisade Bio from $22.50 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Brookline Capital Management started coverage on shares of Palisade Bio in a research note on Wednesday, November 20th. They issued a “buy” rating and a $38.00 target price for the company.

Institutional Investors Weigh In On Palisade Bio

An institutional investor recently bought a new position in Palisade Bio stock. JPMorgan Chase & Co. bought a new stake in shares of Palisade Bio, Inc. (NASDAQ:PALI) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 8,200 shares of the company’s stock, valued at approximately $29,000. JPMorgan Chase & Co. owned approximately 0.54% of Palisade Bio at the end of the most recent reporting period. Institutional investors own 11.79% of the company’s stock.

Palisade Bio Stock Down 5.6 %

Shares of PALI stock traded down $0.10 on Friday, hitting $1.67. The company had a trading volume of 149,263 shares, compared to its average volume of 661,790. Palisade Bio has a twelve month low of $1.38 and a twelve month high of $22.35. The firm has a market cap of $2.53 million, a P/E ratio of -0.12 and a beta of 1.39. The company has a 50-day moving average price of $2.40 and a 200-day moving average price of $3.38.

Palisade Bio (NASDAQ:PALI) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($2.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.35) by $1.03. Equities research analysts expect that Palisade Bio will post -12.43 EPS for the current year.

About Palisade Bio

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.