Renaissance Technologies LLC Lowers Stake in Palisade Bio, Inc. $PALI

Renaissance Technologies LLC cut its stake in Palisade Bio, Inc. (NASDAQ:PALI) by 39.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,454,400 shares of the company’s stock after selling 928,100 shares during the period. Renaissance Technologies LLC owned about 0.84% of Palisade Bio worth $2,545,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Cetera Investment Advisers purchased a new stake in Palisade Bio in the 4th quarter valued at about $25,000. Schonfeld Strategic Advisors LLC bought a new position in Palisade Bio in the fourth quarter worth approximately $26,000. Virtu Financial LLC purchased a new position in Palisade Bio during the 4th quarter worth $28,000. Atom Investors LP purchased a new position in Palisade Bio during the 4th quarter worth $33,000. Finally, Barclays PLC bought a new stake in Palisade Bio during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 11.79% of the company’s stock.

Wall Street Analyst Weigh In

PALI has been the topic of a number of recent research reports. Oppenheimer assumed coverage on Palisade Bio in a research report on Thursday, July 23rd. They set an “outperform” rating and a $8.00 price target on the stock. Weiss Ratings downgraded Palisade Bio from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 14th. LADENBURG THALM/SH SH raised shares of Palisade Bio to a “strong-buy” rating in a research note on Thursday, June 25th. HC Wainwright reiterated a “buy” rating and set a $2.00 target price on shares of Palisade Bio in a report on Tuesday, June 30th. Finally, Wall Street Zen raised shares of Palisade Bio from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $9.00.

Palisade Bio Price Performance

Shares of Palisade Bio stock opened at $2.11 on Monday. The company has a market cap of $366.25 million, a P/E ratio of -2.09 and a beta of 1.52. The firm’s 50 day moving average price is $1.93 and its 200-day moving average price 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 posted its earnings results on Tuesday, May 12th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). As a group, equities research analysts forecast that Palisade Bio, Inc. will post -0.24 EPS for the current fiscal year.

Insider Activity

In other Palisade Bio news, Director Robert Jr. Baltera acquired 25,000 shares of the stock in a transaction dated Thursday, July 9th. The stock was purchased at an average price of $1.96 per share, with a total value of $49,000.00. Following the transaction, the director directly owned 461,904 shares of the company’s stock, valued at $905,331.84. This trade represents a 5.72% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mitchell Lawrence Jones sold 51,880 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $2.05, for a total value of $106,354.00. Following the transaction, the insider owned 94,009 shares in the company, valued at approximately $192,718.45. This trade represents a 35.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders acquired 125,000 shares of company stock worth $250,100. Insiders own 0.07% of the company’s stock.

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.