B Group Inc. Makes New Investment in Palisade Bio, Inc. $PALI

B Group Inc. acquired a new position in shares of Palisade Bio, Inc. (NASDAQ:PALI) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,500,000 shares of the company’s stock, valued at approximately $10,575,000. Palisade Bio makes up 7.8% of B Group Inc.’s investment portfolio, making the stock its 3rd largest holding. B Group Inc. owned 3.02% of Palisade Bio at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. acquired a new position in Palisade Bio during the fourth quarter worth $11,968,000. Renaissance Technologies LLC bought a new position in shares of Palisade Bio in the 4th quarter valued at about $5,599,000. Vivo Capital LLC bought a new position in shares of Palisade Bio in the 4th quarter valued at about $5,390,000. Geode Capital Management LLC increased its stake in shares of Palisade Bio by 5,780.7% during the 4th quarter. Geode Capital Management LLC now owns 1,565,452 shares of the company’s stock worth $3,681,000 after purchasing an additional 1,538,832 shares during the last quarter. Finally, Exome Asset Management LLC bought a new stake in shares of Palisade Bio in the 4th quarter valued at about $1,782,000. 11.79% of the stock is owned by institutional investors.

Palisade Bio Stock Performance

Shares of PALI stock opened at $1.78 on Wednesday. The stock has a market cap of $308.97 million, a price-to-earnings ratio of -1.76 and a beta of 1.52. The firm’s 50-day moving average is $1.98 and its 200-day moving average is $1.91. Palisade Bio, Inc. has a 52-week low of $0.53 and a 52-week high of $2.86.

Palisade Bio (NASDAQ:PALI) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Sell-side analysts predict that Palisade Bio, Inc. will post -0.21 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PALI. Wolfe Research began coverage on shares of Palisade Bio in a report on Thursday, April 9th. They issued an “outperform” rating and a $7.00 target price on the stock. Weiss Ratings cut shares of Palisade Bio from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 9th. Wall Street Zen raised shares of Palisade Bio from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. HC Wainwright began coverage on shares of Palisade Bio in a report on Thursday, March 26th. They issued a “buy” rating and a $7.00 target price on the stock. Finally, Stifel Nicolaus began coverage on shares of Palisade Bio in a report on Wednesday, February 25th. They issued a “buy” rating and a $5.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $10.20.

Palisade Bio Company Profile

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.