Short Interest in Palisade Bio, Inc. (NASDAQ:PALI) Rises By 1,610.0%

Palisade Bio, Inc. (NASDAQ:PALI) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 1,840,000 shares, an increase of 1,610.0% from the November 30th total of 107,600 shares. Based on an average daily volume of 1,220,000 shares, the days-to-cover ratio is presently 1.5 days. Approximately 67.7% of the shares of the stock are short sold.

Hedge Funds 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 Palisade Bio, Inc. (NASDAQ:PALI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 8,200 shares of the company’s stock, valued at approximately $29,000. JPMorgan Chase & Co. owned 0.54% of Palisade Bio at the end of the most recent reporting period. 11.79% of the stock is owned by institutional investors.

Palisade Bio Price Performance

PALI traded down $0.10 on Friday, reaching $1.67. 149,263 shares of the company’s stock were exchanged, compared to its average volume of 661,790. Palisade Bio has a twelve month low of $1.38 and a twelve month high of $22.35. The stock has a market cap of $2.53 million, a PE ratio of -0.12 and a beta of 1.39. The stock’s fifty day moving average price is $2.40 and its 200-day moving average price is $3.38.

Palisade Bio (NASDAQ:PALI) last released its earnings results on Tuesday, November 12th. The company reported ($2.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.35) by $1.03. As a group, research analysts predict that Palisade Bio will post -12.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on PALI. Maxim Group reduced their target price on Palisade Bio from $22.50 to $8.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Brookline Capital Management began coverage on Palisade Bio in a research note on Wednesday, November 20th. They issued a “buy” rating and a $38.00 price objective for the company.

About Palisade Bio

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.