Palisade Bio, Inc. (NASDAQ:PALI – Get Free Report) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 148,000 shares, an increase of 38.4% from the February 13th total of 106,900 shares. Based on an average daily trading volume, of 1,480,000 shares, the days-to-cover ratio is currently 0.1 days. Currently, 5.4% of the shares of the stock are short sold.
Palisade Bio Trading Down 4.1 %
Shares of NASDAQ PALI traded down $0.04 during midday trading on Tuesday, hitting $0.82. The company’s stock had a trading volume of 58,891 shares, compared to its average volume of 754,857. The business’s 50 day moving average is $1.24 and its two-hundred day moving average is $2.27. Palisade Bio has a 12-month low of $0.75 and a 12-month high of $9.65. The firm has a market cap of $2.27 million, a P/E ratio of -0.06 and a beta of 1.49.
Wall Street Analysts Forecast Growth
Separately, Brookline Capital Management assumed coverage on shares of Palisade Bio in a report on Wednesday, November 20th. They set a “buy” rating and a $38.00 price objective 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. purchased a new position in Palisade Bio, Inc. (NASDAQ:PALI – Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,200 shares of the company’s stock, valued at approximately $29,000. JPMorgan Chase & Co. owned 0.54% of Palisade Bio as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 11.79% of the company’s stock.
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.
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