Palisade Bio (NASDAQ:PALI) Shares Down 2% – What’s Next?

Shares of Palisade Bio, Inc. (NASDAQ:PALI) were down 2% on Wednesday . The stock traded as low as $0.83 and last traded at $0.87. Approximately 117,417 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 576,429 shares. The stock had previously closed at $0.89.

Analysts Set New Price Targets

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

Palisade Bio Stock Performance

The company has a market cap of $2.41 million, a PE ratio of -0.06 and a beta of 1.43. The firm has a fifty day simple moving average of $1.48 and a 200 day simple moving average of $2.53.

Institutional Trading of Palisade Bio

A hedge fund recently bought a new stake in Palisade Bio stock. Cetera Investment Advisers purchased a new position in shares of Palisade Bio, Inc. (NASDAQ:PALI) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 70,006 shares of the company’s stock, valued at approximately $116,000. Cetera Investment Advisers owned about 2.53% 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.

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.