PolyPid Ltd. (NASDAQ:PYPD) Sees Large Decrease in Short Interest

PolyPid Ltd. (NASDAQ:PYPD) was the target of a significant decline in short interest in January. As of January 15th, there was short interest totaling 19,282 shares, a decline of 71.7% from the December 31st total of 68,118 shares. Based on an average trading volume of 85,748 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.2% of the company’s stock are sold short. Currently, 0.2% of the company’s stock are sold short. Based on an average trading volume of 85,748 shares, the days-to-cover ratio is presently 0.2 days.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Roth Mkm lowered their price objective on PolyPid from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Wall Street Zen raised shares of PolyPid from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PolyPid in a report on Monday, December 29th. Finally, Citigroup reiterated a “market outperform” rating on shares of PolyPid in a research note on Monday, December 1st. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, PolyPid presently has an average rating of “Moderate Buy” and a consensus target price of $12.25.

PolyPid Stock Down 3.6%

PYPD stock traded down $0.18 during trading on Wednesday, hitting $4.63. 53,092 shares of the company’s stock traded hands, compared to its average volume of 85,236. The stock has a market capitalization of $73.54 million, a price-to-earnings ratio of -1.55 and a beta of 1.51. PolyPid has a 52 week low of $2.30 and a 52 week high of $5.05. The stock has a fifty day moving average price of $4.16 and a two-hundred day moving average price of $3.73.

PolyPid (NASDAQ:PYPD) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.17. As a group, equities research analysts expect that PolyPid will post -1.79 EPS for the current fiscal year.

Hedge Funds Weigh In On PolyPid

Several institutional investors have recently made changes to their positions in PYPD. AIGH Capital Management LLC raised its position in shares of PolyPid by 27.0% during the 2nd quarter. AIGH Capital Management LLC now owns 1,194,108 shares of the company’s stock worth $4,215,000 after purchasing an additional 253,727 shares during the period. Lumbard & Kellner LLC acquired a new position in PolyPid during the 2nd quarter valued at approximately $135,000. Finally, BNP Paribas Financial Markets grew its stake in PolyPid by 56.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,734 shares of the company’s stock worth $32,000 after buying an additional 3,500 shares during the last quarter. 26.47% of the stock is owned by institutional investors.

About PolyPid

PolyPid Ltd is a clinical‐stage biotechnology company focused on polymer‐based drug delivery technologies designed to enhance the performance of therapeutic agents at mucosal surfaces. Leveraging its proprietary Mucoadhesive & Mucus‐Penetrating (MMP) platform, PolyPid develops long‐acting formulations for ocular, oral and pulmonary indications. Its lead candidates include OncoTears and OralTear, therapies targeting dry eye and dry mouth conditions, respectively, as well as Paclical, a polymer‐formulated paclitaxel designed to improve tolerability and antitumor activity in oncology patients.

Founded in 2003 and headquartered in Jerusalem, Israel, PolyPid has assembled an international patent portfolio covering key markets in North America, Europe and Asia.