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

Palisade Bio, Inc. (NASDAQ:PALI) was the target of a significant growth in short interest in November. As of November 15th, there was short interest totalling 114,700 shares, a growth of 166.1% from the October 31st total of 43,100 shares. Based on an average trading volume of 82,100 shares, the days-to-cover ratio is presently 1.4 days. Currently, 8.8% of the company’s stock are short sold.

Palisade Bio Trading Up 1.7 %

PALI stock traded up $0.04 during trading on Friday, reaching $2.46. The stock had a trading volume of 37,955 shares, compared to its average volume of 393,682. Palisade Bio has a 52 week low of $2.18 and a 52 week high of $22.35. The stock’s 50 day moving average is $3.08 and its two-hundred day moving average is $3.88. The firm has a market cap of $3.27 million, a PE ratio of -0.18 and a beta of 1.36.

Palisade Bio (NASDAQ:PALI) last posted its earnings results on Tuesday, November 12th. The company reported ($2.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.35) by $1.03. On average, research analysts anticipate that Palisade Bio will post -12.43 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Brookline Capital Management assumed coverage on Palisade Bio in a report on Wednesday, November 20th. They set a “buy” rating and a $38.00 price target on the stock. Maxim Group lowered their target price on Palisade Bio from $22.50 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th.

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.