Palisade Bio, Inc. (NASDAQ:PALI) Short Interest Up 158.1% in October

Palisade Bio, Inc. (NASDAQ:PALI) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 43,100 shares, an increase of 158.1% from the October 15th total of 16,700 shares. Based on an average daily volume of 74,100 shares, the short-interest ratio is presently 0.6 days. Currently, 3.3% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, Maxim Group dropped their target price on Palisade Bio from $22.50 to $8.00 and set a “buy” rating for the company in a report on Wednesday.

Palisade Bio Trading Down 2.5 %

Shares of NASDAQ PALI traded down $0.06 during mid-day trading on Wednesday, reaching $2.32. The company had a trading volume of 25,028 shares, compared to its average volume of 409,992. Palisade Bio has a 52 week low of $2.18 and a 52 week high of $22.35. The business’s 50-day moving average is $3.40 and its 200-day moving average is $4.23. The stock has a market cap of $3.09 million, a price-to-earnings ratio of -0.17 and a beta of 1.36.

Palisade Bio (NASDAQ:PALI) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($2.32) earnings per share for the quarter, beating the consensus estimate of ($3.35) by $1.03. As a group, equities research analysts forecast that Palisade Bio will post -13.11 earnings per share for the current year.

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.