PolyPid Ltd. (NASDAQ:PYPD) Short Interest Update

PolyPid Ltd. (NASDAQ:PYPD) saw a large decrease in short interest in the month of April. As of April 30th, there was short interest totaling 30,140 shares, a decrease of 74.4% from the April 15th total of 117,650 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily volume of 42,887 shares, the days-to-cover ratio is presently 0.7 days.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PYPD shares. Weiss Ratings downgraded shares of PolyPid from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 1st. Wall Street Zen upgraded shares of PolyPid from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, HC Wainwright restated a “buy” rating and set a $13.00 price target on shares of PolyPid in a research report on Wednesday, February 11th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.25.

Institutional Investors Weigh In On PolyPid

Hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets raised its position in shares of PolyPid by 56.1% in the third quarter. BNP Paribas Financial Markets now owns 9,734 shares of the company’s stock valued at $32,000 after buying an additional 3,500 shares during the last quarter. HighTower Advisors LLC acquired a new stake in shares of PolyPid in the fourth quarter valued at about $44,000. Jane Street Group LLC acquired a new stake in shares of PolyPid in the 4th quarter worth $66,000. Renaissance Technologies LLC acquired a new stake in shares of PolyPid in the 1st quarter worth $81,000. Finally, XTX Topco Ltd increased its stake in shares of PolyPid by 50.0% in the 4th quarter. XTX Topco Ltd now owns 32,661 shares of the company’s stock worth $142,000 after acquiring an additional 10,888 shares during the last quarter. 26.47% of the stock is currently owned by institutional investors and hedge funds.

PolyPid Price Performance

NASDAQ PYPD traded up $0.08 during mid-day trading on Friday, hitting $4.46. The stock had a trading volume of 109,834 shares, compared to its average volume of 48,778. The firm’s 50 day moving average is $4.39 and its 200 day moving average is $4.24. PolyPid has a twelve month low of $2.44 and a twelve month high of $5.12. The stock has a market capitalization of $85.10 million, a price-to-earnings ratio of -2.34 and a beta of 1.41.

PolyPid (NASDAQ:PYPD) last issued its earnings results on Wednesday, May 13th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.12. As a group, equities research analysts expect that PolyPid will post -1.5 earnings per share for the current year.

PolyPid Company Profile

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.