Renaissance Technologies LLC Reduces Position in Palisade Bio, Inc. $PALI

Renaissance Technologies LLC trimmed its position in Palisade Bio, Inc. (NASDAQ:PALI) by 39.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,454,400 shares of the company’s stock after selling 928,100 shares during the period. Renaissance Technologies LLC’s holdings in Palisade Bio were worth $2,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cetera Investment Advisers acquired a new stake in Palisade Bio during the 4th quarter worth about $25,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Palisade Bio in the fourth quarter valued at about $26,000. Virtu Financial LLC purchased a new position in shares of Palisade Bio in the fourth quarter worth about $28,000. Atom Investors LP purchased a new position in shares of Palisade Bio in the fourth quarter worth about $33,000. Finally, Barclays PLC acquired a new stake in shares of Palisade Bio during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 11.79% of the company’s stock.

Insider Activity

In other Palisade Bio news, Director Robert Jr. Baltera purchased 25,000 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was purchased at an average price of $1.96 per share, for a total transaction of $49,000.00. Following the purchase, the director directly owned 461,904 shares in the company, valued at approximately $905,331.84. This trade represents a 5.72% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John David Finley sold 146,798 shares of the company’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $2.07, for a total value of $303,871.86. Following the completion of the transaction, the chief executive officer directly owned 217,555 shares of the company’s stock, valued at $450,338.85. The trade was a 40.29% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have acquired 125,000 shares of company stock worth $250,100 in the last ninety days. Company insiders own 0.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PALI. Weiss Ratings lowered Palisade Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 14th. HC Wainwright restated a “buy” rating and set a $2.00 price objective on shares of Palisade Bio in a research note on Tuesday, June 30th. Wall Street Zen upgraded shares of Palisade Bio from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. LADENBURG THALM/SH SH raised shares of Palisade Bio to a “strong-buy” rating in a report on Thursday, June 25th. Finally, Oppenheimer assumed coverage on shares of Palisade Bio in a research note on Thursday, July 23rd. They issued an “outperform” rating and a $8.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $9.00.

Palisade Bio Price Performance

PALI opened at $2.11 on Monday. The firm has a fifty day moving average price of $1.93 and a 200 day moving average price of $1.91. Palisade Bio, Inc. has a 1 year low of $0.53 and a 1 year high of $2.86. The stock has a market cap of $366.25 million, a P/E ratio of -2.09 and a beta of 1.52.

Palisade Bio (NASDAQ:PALI) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). Equities analysts expect that Palisade Bio, Inc. will post -0.24 EPS for the current year.

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.