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

Palisade Bio, Inc. (NASDAQ:PALI) saw a large decrease in short interest in January. As of January 15th, there was short interest totalling 66,300 shares, a decrease of 96.4% from the December 31st total of 1,840,000 shares. Approximately 2.4% of the company’s stock are sold short. Based on an average daily trading volume, of 1,270,000 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PALI. Maxim Group lowered their target price on Palisade Bio from $22.50 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Brookline Capital Management began coverage on shares of Palisade Bio in a research note on Wednesday, November 20th. They set a “buy” rating and a $38.00 target price on the stock.

Hedge Funds Weigh In On Palisade Bio

A hedge fund recently bought a new stake in Palisade Bio stock. JPMorgan Chase & Co. purchased a new stake in Palisade Bio, Inc. (NASDAQ:PALI) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,200 shares of the company’s stock, valued at approximately $29,000. JPMorgan Chase & Co. owned approximately 0.54% of Palisade Bio at the end of the most recent reporting period. 11.79% of the stock is owned by hedge funds and other institutional investors.

Palisade Bio Price Performance

Shares of Palisade Bio stock opened at $1.43 on Thursday. Palisade Bio has a 1 year low of $1.33 and a 1 year high of $11.75. The company’s fifty day moving average is $1.86 and its two-hundred day moving average is $2.93.

Palisade Bio (NASDAQ:PALI) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($2.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.35) by $1.03. On average, sell-side analysts anticipate that Palisade Bio will post -12.43 earnings per share for the current year.

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.