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

Palisade Bio, Inc. (NASDAQ:PALI) was the recipient of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 148,000 shares, a growth of 38.4% from the February 13th total of 106,900 shares. Approximately 5.4% of the company’s stock are sold short. Based on an average daily volume of 1,480,000 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On Palisade Bio

An institutional investor recently bought a new position in Palisade Bio stock. JPMorgan Chase & Co. purchased a new stake in shares of Palisade Bio, Inc. (NASDAQ:PALI) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 8,200 shares of the company’s stock, valued at approximately $29,000. JPMorgan Chase & Co. owned about 0.54% of Palisade Bio as of its most recent SEC filing. 11.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Brookline Capital Management initiated coverage on shares of Palisade Bio in a report on Wednesday, November 20th. They set a “buy” rating and a $38.00 target price for the company.

Palisade Bio Stock Down 4.1 %

Shares of PALI stock traded down $0.04 during trading hours on Tuesday, hitting $0.82. 58,891 shares of the company’s stock traded hands, compared to its average volume of 754,857. The stock’s fifty day simple moving average is $1.24 and its two-hundred day simple moving average is $2.27. Palisade Bio has a 12-month low of $0.75 and a 12-month high of $9.65. The stock has a market cap of $2.27 million, a price-to-earnings ratio of -0.06 and a beta of 1.49.

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 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.