Short Interest in PolyPid Ltd. (NASDAQ:PYPD) Increases By 235.2%

PolyPid Ltd. (NASDAQ:PYPD) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 283,206 shares, a growth of 235.2% from the June 30th total of 84,501 shares. Based on an average trading volume of 255,249 shares, the short-interest ratio is presently 1.1 days. Approximately 2.0% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PYPD shares. Weiss Ratings raised shares of PolyPid from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. Craig Hallum set a $12.00 price objective on PolyPid in a report on Wednesday, July 22nd. Finally, HC Wainwright reissued a “buy” rating and issued a $13.00 target price on shares of PolyPid in a research report on Tuesday, July 21st. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, PolyPid currently has an average rating of “Moderate Buy” and an average target price of $11.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. AIGH Capital Management LLC increased its position in shares of PolyPid by 26.1% during the fourth quarter. AIGH Capital Management LLC now owns 1,342,972 shares of the company’s stock valued at $5,828,000 after buying an additional 277,844 shares during the period. ADAR1 Capital Management LLC bought a new stake in PolyPid during the 4th quarter valued at approximately $451,000. Renaissance Technologies LLC bought a new stake in PolyPid during the 1st quarter valued at approximately $81,000. Jane Street Group LLC purchased a new position in shares of PolyPid during the 4th quarter worth approximately $66,000. Finally, XTX Topco Ltd grew its holdings in shares of PolyPid by 50.0% during 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 period. Institutional investors own 26.47% of the company’s stock.

PolyPid Stock Performance

PYPD traded down $0.14 on Tuesday, reaching $3.83. The company had a trading volume of 98,343 shares, compared to its average volume of 122,124. PolyPid has a 52-week low of $3.06 and a 52-week high of $5.73. The company has a market cap of $73.18 million, a price-to-earnings ratio of -2.01 and a beta of 1.40. The business has a 50 day simple moving average of $4.82 and a 200 day simple moving average of $4.57.

PolyPid (NASDAQ:PYPD) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.12. As a group, equities research analysts predict that PolyPid will post -0.77 EPS for the current fiscal 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.