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

Palisade Bio, Inc. (NASDAQ:PALI) was the recipient of a large growth in short interest in January. As of January 30th, there was short interest totaling 21,095,322 shares, a growth of 20.6% from the January 15th total of 17,496,604 shares. Based on an average daily volume of 6,025,264 shares, the days-to-cover ratio is currently 3.5 days. Currently, 14.2% of the company’s stock are sold short. Currently, 14.2% of the company’s stock are sold short. Based on an average daily volume of 6,025,264 shares, the days-to-cover ratio is currently 3.5 days.

Institutional Trading of Palisade Bio

Large investors have recently added to or reduced their stakes in the business. Creek Drive Management Group LLC bought a new stake in Palisade Bio during the fourth quarter valued at about $723,000. XTX Topco Ltd raised its stake in shares of Palisade Bio by 53.8% in the fourth quarter. XTX Topco Ltd now owns 21,669 shares of the company’s stock valued at $51,000 after acquiring an additional 7,584 shares during the last quarter. Ikarian Capital LLC acquired a new stake in shares of Palisade Bio in the fourth quarter valued at $646,000. Squadron Capital Management LLC bought a new position in shares of Palisade Bio in the fourth quarter worth about $10,575,000. Finally, Sphera Funds Management LTD. acquired a new stake in shares of Palisade Bio in the 4th quarter valued at $433,000. 11.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PALI has been the topic of several recent analyst reports. Citigroup reiterated a “buy” rating on shares of Palisade Bio in a research note on Tuesday, November 11th. Clear Str raised shares of Palisade Bio to a “strong-buy” rating in a report on Monday, December 29th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Palisade Bio in a research note on Thursday, January 22nd. Wall Street Zen cut Palisade Bio from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Finally, Piper Sandler began coverage on shares of Palisade Bio in a research report on Monday, December 29th. They issued an “overweight” rating and a $25.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Palisade Bio Stock Down 0.6%

Shares of PALI opened at $1.69 on Thursday. Palisade Bio has a 52-week low of $0.53 and a 52-week high of $2.64. The firm has a 50-day moving average price of $1.88 and a 200 day moving average price of $1.54. The firm has a market capitalization of $251.82 million, a PE ratio of -0.80 and a beta of 1.58.

About Palisade Bio

Palisade Bio, Inc is a clinical‐stage biotechnology company focused on pioneering localized immunotherapies for the treatment of cancer and inflammatory diseases. The company leverages a proprietary prodrug platform designed to activate therapeutic agents selectively within the tumor microenvironment or sites of inflammation. Its core strategy centers on stimulating the innate immune system via toll‐like receptor 9 (TLR9) agonism to drive targeted immune responses while minimizing systemic exposure and toxicity.

The company’s lead product candidate, PDS0108, is an intratumoral TLR9 agonist prodrug currently in Phase 1/2 clinical trials for patients with advanced solid tumors.