PolyPid Ltd. (NASDAQ:PYPD) Sees Significant Increase in Short Interest

PolyPid Ltd. (NASDAQ:PYPD) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 225,458 shares, an increase of 78.6% from the September 30th total of 126,220 shares. Based on an average trading volume of 104,979 shares, the short-interest ratio is currently 2.1 days. Currently, 1.6% of the shares of the company are short sold.

Analyst Ratings Changes

PYPD has been the subject of a number of research analyst reports. Craig Hallum set a $12.00 price target on PolyPid in a report on Wednesday, July 22nd. Oppenheimer initiated coverage on PolyPid in a report on Tuesday, October 27th. They set an “outperform” rating and a $10.00 target price on the stock. HC Wainwright restated a “buy” rating and issued a $13.00 price target on shares of PolyPid in a research note on Tuesday, July 21st. Weiss Ratings restated a “sell (d-)” rating on shares of PolyPid in a research note on Friday, September 18th. Finally, Wall Street Zen raised PolyPid from a “hold” rating to a “buy” rating in a report on Saturday. Four 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, PolyPid currently has an average rating of “Moderate Buy” and an average target price of $11.00.

Hedge Funds Weigh In On PolyPid

Several institutional investors and hedge funds have recently modified their holdings of the business. AIGH Capital Management LLC lifted its holdings in shares of PolyPid by 18.7% during the 1st quarter. AIGH Capital Management LLC now owns 1,593,587 shares of the company’s stock worth $6,980,000 after acquiring an additional 250,615 shares during the period. ADAR1 Capital Management LLC bought a new position in PolyPid in the second quarter valued at approximately $528,000. Symmetry Peak Management LLC bought a new position in PolyPid in the second quarter valued at approximately $512,000. J. Goldman & Co LP acquired a new position in PolyPid during the second quarter valued at approximately $504,000. Finally, Connective Capital Management LLC acquired a new position in PolyPid during the second quarter valued at approximately $343,000. 26.47% of the stock is currently owned by institutional investors and hedge funds.

PolyPid Trading Up 1.5%

Shares of NASDAQ:PYPD traded up $0.08 during trading on Tuesday, reaching $5.50. 8,500 shares of the stock were exchanged, compared to its average volume of 122,590. PolyPid has a 12 month low of $3.50 and a 12 month high of $5.84. The stock has a 50-day moving average price of $5.20 and a 200-day moving average price of $4.73. The firm has a market cap of $105.02 million, a PE ratio of -3.72 and a beta of 1.38.

PolyPid (NASDAQ:PYPD) last announced its earnings results on Wednesday, August 12th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.03. On average, sell-side analysts expect that PolyPid will post -0.44 earnings per share for the current fiscal year.

About PolyPid

PolyPid Ltd. (NASDAQ: PYPD) is a clinical-stage biopharmaceutical company focused on developing locally administered therapies designed to provide controlled and sustained drug release at treatment sites. The company’s technology is intended to maintain therapeutic drug concentrations over extended periods while limiting systemic exposure.

PolyPid’s lead product candidate is D-PLEX100, an investigational formulation based on doxycycline and the company’s proprietary PLEX polymeric matrix.