Palisade Bio, Inc. (NASDAQ:PALI) Sees Large Growth in Short Interest

Palisade Bio, Inc. (NASDAQ:PALI) saw a large increase in short interest in November. As of November 15th, there was short interest totalling 114,700 shares, an increase 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.

Analysts Set New Price Targets

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

Palisade Bio Stock Performance

NASDAQ PALI opened at $2.42 on Thursday. The stock’s fifty day moving average price is $3.14 and its 200-day moving average price is $3.90. The stock has a market cap of $3.22 million, a P/E ratio of -0.17 and a beta of 1.36. Palisade Bio has a 12 month low of $2.18 and a 12 month high of $22.35.

Palisade Bio (NASDAQ:PALI) last released its quarterly earnings data 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. As a group, analysts forecast that Palisade Bio will post -12.43 earnings per share for the current fiscal year.

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.