PolyPid Ltd. (NASDAQ:PYPD) Short Interest Update

PolyPid Ltd. (NASDAQ:PYPD) was the recipient of a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 231,379 shares, a decline of 44.0% from the July 30th total of 412,853 shares. Approximately 1.6% of the company’s shares are short sold. Based on an average daily volume of 170,743 shares, the days-to-cover ratio is currently 1.4 days.

Analysts Set New Price Targets

PYPD has been the topic of several analyst reports. Craig Hallum set a $12.00 target price on shares of PolyPid in a report on Wednesday, July 22nd. Weiss Ratings raised shares of PolyPid from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. Finally, HC Wainwright restated a “buy” rating and issued a $13.00 price objective on shares of PolyPid in a research report on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, PolyPid presently has an average rating of “Moderate Buy” and a consensus price target of $11.33.

Institutional Trading of PolyPid

Several hedge funds and other institutional investors have recently modified their holdings of PYPD. BNP Paribas Financial Markets lifted its holdings 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 purchasing an additional 3,500 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of PolyPid during the fourth quarter worth about $44,000. Jane Street Group LLC bought a new position in shares of PolyPid during the fourth quarter worth about $66,000. Renaissance Technologies LLC acquired a new stake in PolyPid in the 1st quarter valued at approximately $81,000. Finally, AXQ Capital LP acquired a new stake in PolyPid in the 2nd quarter valued at approximately $87,000. Institutional investors and hedge funds own 26.47% of the company’s stock.

PolyPid Trading Down 1.0%

Shares of PYPD stock traded down $0.05 during trading hours on Friday, hitting $5.07. 63,535 shares of the company were exchanged, compared to its average volume of 151,331. The business has a 50 day moving average of $4.82 and a two-hundred day moving average of $4.60. PolyPid has a 52 week low of $3.06 and a 52 week high of $5.73. The company has a market capitalization of $96.75 million, a PE ratio of -3.43 and a beta of 1.41.

PolyPid (NASDAQ:PYPD) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.03. On average, research analysts forecast that PolyPid will post -0.92 EPS for the current year.

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.