Palisade Bio (NASDAQ:PALI) Stock Rating Reaffirmed by Maxim Group

Palisade Bio (NASDAQ:PALI)‘s stock had its “buy” rating restated by investment analysts at Maxim Group in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $22.50 price objective on the stock. Maxim Group’s price target indicates a potential upside of 240.91% from the company’s previous close.

Palisade Bio Stock Performance

Shares of PALI opened at $6.60 on Tuesday. Palisade Bio has a 52 week low of $3.82 and a 52 week high of $36.60. The firm has a market cap of $5.62 million, a P/E ratio of -0.24 and a beta of 1.33. The firm’s 50-day simple moving average is $5.86 and its 200 day simple moving average is $7.64.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp acquired a new position in Palisade Bio in the 2nd quarter valued at about $38,000. Geode Capital Management LLC acquired a new position in shares of Palisade Bio during the 2nd quarter worth approximately $72,000. Virtu Financial LLC acquired a new position in shares of Palisade Bio during the 4th quarter worth approximately $31,000. Vanguard Group Inc. grew its position in shares of Palisade Bio by 91.3% during the 3rd quarter. Vanguard Group Inc. now owns 68,054 shares of the company’s stock worth $40,000 after purchasing an additional 32,485 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Palisade Bio by 1,396.0% during the 3rd quarter. Renaissance Technologies LLC now owns 512,070 shares of the company’s stock worth $51,000 after purchasing an additional 477,840 shares in the last quarter. Institutional investors and hedge funds own 11.79% of the company’s stock.

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 LB1148, an oral liquid formulation of the digestive enzyme inhibitor tranexamic acid to reduce the formation of postoperative adhesions, postoperative ileus, and return of bowel function in adults.