BlackRock Inc. Acquires New Stake in Palisade Bio, Inc. $PALI

BlackRock Inc. bought a new position in shares of Palisade Bio, Inc. (NASDAQ:PALI) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,436,760 shares of the company’s stock, valued at approximately $21,813,000. BlackRock Inc. owned about 0.06% of Palisade Bio as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PALI. Cetera Investment Advisers bought a new stake in shares of Palisade Bio in the 4th quarter valued at about $25,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Palisade Bio during the fourth quarter worth about $26,000. Virtu Financial LLC acquired a new position in shares of Palisade Bio in the fourth quarter worth approximately $28,000. CTC Alternative Strategies Ltd. acquired a new position in shares of Palisade Bio in the first quarter worth approximately $31,000. Finally, Atom Investors LP bought a new stake in Palisade Bio in the fourth quarter valued at approximately $33,000. 11.79% of the stock is owned by institutional investors and hedge funds.

Palisade Bio Stock Up 1.5%

Palisade Bio stock opened at $1.99 on Thursday. Palisade Bio, Inc. has a 12-month low of $0.53 and a 12-month high of $2.85. The firm’s fifty day moving average is $2.02 and its 200 day moving average is $1.95. The company has a market capitalization of $346.80 million, a PE ratio of -4.15 and a beta of 1.53.

Palisade Bio (NASDAQ:PALI) last issued its earnings results on Monday, August 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $0.50 million for the quarter, compared to the consensus estimate of $0.50 million. Sell-side analysts expect that Palisade Bio, Inc. will post -0.23 EPS for the current fiscal year.

Insider Activity

In related news, Director Robert Jr. Baltera acquired 30,000 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were bought at an average price of $2.03 per share, with a total value of $60,900.00. Following the transaction, the director directly owned 416,904 shares of the company’s stock, valued at $846,315.12. This trade represents a 7.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John David Finley sold 146,798 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $2.07, for a total value of $303,871.86. Following the completion of the sale, the chief executive officer owned 217,555 shares of the company’s stock, valued at approximately $450,338.85. This represents a 40.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have purchased 125,000 shares of company stock worth $250,100. Company insiders own 0.07% of the company’s stock.

Wall Street Analysts Forecast Growth

PALI has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Palisade Bio from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Oppenheimer started coverage on shares of Palisade Bio in a research report on Thursday, July 23rd. They issued an “outperform” rating and a $8.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $2.00 price objective on shares of Palisade Bio in a research note on Tuesday, June 30th. Weiss Ratings cut shares of Palisade Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 14th. Finally, LADENBURG THALM/SH SH raised shares of Palisade Bio to a “strong-buy” rating in a research note on Thursday, June 25th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $9.00.

Palisade Bio Company Profile

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.