Palisade Bio Experiences Notable Decrease in Short Interest During December

Palisade Bio, Inc. (NASDAQ:PALI) has witnessed a substantial drop in short interest in December compared to the levels observed at the end of November. Specific data reveals that as of December 15th, short interest in the company amounted to 26,700 shares, marking a decrease by 23.5% from the November 30th total of 34,900 shares. Short sales now account for a minor 0.3% of PALI's total shares.

Institutional Investors Make Their Moves

In recent developments, significant investment players have been adjusting their shares in Palisade Bio. The reputable Vanguard Group Inc. has bolstered its ownership by 11.5% during the first quarter, now holding 271,604 shares with an estimated value of $288,000 after an increment of 28,014 shares. Geode Capital Management LLC and Renaissance Technologies LLC have also acted, with the former initiating a new position and the latter increasing its stake by an impressive 1,396.0%, resulting in ownership of 512,070 shares valued at about $51,000. Additionally, State Street Corp started a fresh position in the second quarter. Total institutional investments currently possess 1.94% of Palisade Bio’s stock.

Optimistic Projections from Wall Street Analysts

Analysis from Wall Street reflects a positive tilt towards Palisade Bio, with Maxim Group upgrading the stock from a "hold" to a "buy" rating and assigning a price target of $1.50 per share in mid-November.

Market Performance and Stock Movements

The recent trading session saw PALI's shares decrease by 9.8%, closing at $0.59 per share. Despite the day's drop, the overall movement of shares has been notable with 418,351 shares changing hands, surpassing the average volume. Palisade Bio's market capitalization hovers around $5.44 million, and it carries a P/E ratio of 0.04 with a beta of 1.64. A look at the moving averages shows the 50-day line at $0.58 and the 200-day line at $0.97. The company's share price fluctuated between a 12-month low of $0.50 and a high of $8.54.

Concerning recent earnings, PALI disclosed a quarterly earnings report on November 9th, with earnings per share (EPS) at a loss of ($0.49), which did not meet the consensus estimate loss of ($0.40) by $0.09. Predictions for the company's current year earnings stand at an EPS loss of -1.92.

About Palisade Bio

Palisade Bio, Inc., a clinical-stage biopharmaceutical enterprise, is devoted to developing treatments that defend the integrity of the intestinal barrier. Their leading product candidate, LB1148, is an oral liquid formulation designed to inhibit digestive enzymes, potentially reducing postoperative adhesions and aiding in quicker bowel function recovery for adults.

Palisade, Stocks, Investors