Palisade Bio, Inc. (NASDAQ:PALI) Sees Large Growth in Short Interest

Palisade Bio, Inc. (NASDAQ:PALI) 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) 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.