PolyPid (NASDAQ:PYPD) Stock Rating Lowered by Zacks Investment Research

PolyPid (NASDAQ:PYPD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “PolyPid Ltd. is a pharmaceutical company. It discovers, develops and commercializes antibiotic drugs for the prevention of surgical infections. The company’s product candidate includes D-PLEX100, BONYPID-1000 and BONYPID-500 which are in clinical stage. PolyPid Ltd. is based in Petach Tikva, Israel. “

Separately, JMP Securities reaffirmed a “buy” rating and issued a $15.00 price objective on shares of PolyPid in a research note on Thursday, December 16th.

Shares of NASDAQ PYPD opened at $5.59 on Thursday. PolyPid has a 12-month low of $5.40 and a 12-month high of $16.50. The firm has a market cap of $95.29 million, a PE ratio of -2.84 and a beta of 0.43. The company’s fifty day simple moving average is $6.53 and its 200 day simple moving average is $7.49.

PolyPid (NASDAQ:PYPD) last released its quarterly earnings data on Wednesday, November 10th. The company reported ($0.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.13. During the same quarter in the prior year, the business earned ($0.35) earnings per share. As a group, equities analysts anticipate that PolyPid will post -2.12 EPS for the current year.

Several hedge funds have recently made changes to their positions in the company. UBS Group AG raised its holdings in shares of PolyPid by 32.7% in the third quarter. UBS Group AG now owns 204,555 shares of the company’s stock valued at $1,592,000 after purchasing an additional 50,395 shares during the last quarter. Millennium Management LLC increased its holdings in PolyPid by 153.5% during the second quarter. Millennium Management LLC now owns 56,530 shares of the company’s stock worth $512,000 after buying an additional 34,227 shares during the last quarter. Meitav Dash Investments Ltd. increased its holdings in PolyPid by 117.2% during the third quarter. Meitav Dash Investments Ltd. now owns 31,500 shares of the company’s stock worth $246,000 after buying an additional 17,000 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in PolyPid by 22.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 24,361 shares of the company’s stock worth $190,000 after buying an additional 4,545 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in PolyPid during the second quarter worth about $174,000. Institutional investors own 8.97% of the company’s stock.

About PolyPid

PolyPid Ltd., a late-stage biopharma company, develops, manufactures, and commercializes products based on polymer-lipid encapsulation matrix (PLEX) platform to address unmet medical needs. Its lead product includes D-PLEX100, which is in Phase 3 clinical trial for the prevention of sternal (bone) surgical site infections (SSIs), as well as for the prevention of abdominal (soft tissue) SSIs.

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