Palisade Bio, Inc. (NASDAQ:PALI) Sees Significant Increase in Short Interest

Palisade Bio, Inc. (NASDAQ:PALI) was the recipient of a significant growth in short interest in May. As of May 31st, there was short interest totalling 228,000 shares, a growth of 30.2% from the May 15th total of 175,100 shares. Based on an average daily trading volume, of 415,900 shares, the short-interest ratio is presently 0.5 days. Approximately 4.8% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, Brookline Capital Management reiterated a “buy” rating and set a $16.00 price objective on shares of Palisade Bio in a research report on Tuesday, May 13th.

Palisade Bio Stock Performance

Shares of NASDAQ:PALI traded up $0.01 during midday trading on Tuesday, reaching $0.62. The company had a trading volume of 24,862 shares, compared to its average volume of 544,704. The company has a fifty day simple moving average of $0.73 and a two-hundred day simple moving average of $1.11. Palisade Bio has a 1-year low of $0.60 and a 1-year high of $5.15. The firm has a market cap of $2.97 million, a price-to-earnings ratio of -0.04 and a beta of 1.36.

Palisade Bio (NASDAQ:PALI) last issued its earnings results on Monday, May 12th. The company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.84) by $0.37. Analysts expect that Palisade Bio will post -12.43 EPS for the current year.

Hedge Funds Weigh In On Palisade Bio

A hedge fund recently bought a new stake in Palisade Bio stock. Cetera Investment Advisers bought a new stake in shares of Palisade Bio, Inc. (NASDAQ:PALI) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 70,006 shares of the company’s stock, valued at approximately $116,000. Cetera Investment Advisers owned 2.53% of Palisade Bio as of its most recent SEC filing. 11.79% of the stock is currently owned by institutional investors and hedge funds.

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.