Palisade Bio (NASDAQ:PALI) Earns Buy Rating from Maxim Group

Maxim Group reaffirmed their buy rating on shares of Palisade Bio (NASDAQ:PALI) in a research note released on Tuesday morning, Benzinga reports. The firm currently has a $22.50 price target on the stock.

Palisade Bio Stock Performance

NASDAQ PALI opened at $5.93 on Tuesday. Palisade Bio has a one year low of $3.82 and a one year high of $36.60. The firm has a 50 day simple moving average of $5.87 and a 200-day simple moving average of $7.65. The firm has a market cap of $5.04 million, a price-to-earnings ratio of -0.22 and a beta of 1.33.

Institutional Trading of Palisade Bio

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Palisade Bio by 11.5% in the first quarter. Vanguard Group Inc. now owns 271,604 shares of the company’s stock valued at $288,000 after purchasing an additional 28,014 shares during the period. Geode Capital Management LLC acquired a new stake in Palisade Bio in the 2nd quarter valued at about $72,000. Renaissance Technologies LLC boosted its stake in shares of Palisade Bio by 1,396.0% in the 3rd quarter. Renaissance Technologies LLC now owns 512,070 shares of the company’s stock valued at $51,000 after buying an additional 477,840 shares during the period. State Street Corp purchased a new stake in shares of Palisade Bio during the second quarter worth approximately $38,000. Finally, Virtu Financial LLC acquired a new stake in Palisade Bio in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors 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 LB1148, an oral liquid formulation of the digestive enzyme inhibitor tranexamic acid to reduce the formation of postoperative adhesions, postoperative ileus, and return of bowel function in adults.