Wall Street Zen Upgrades PolyPid (NASDAQ:PYPD) to “Hold”

PolyPid (NASDAQ:PYPD) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

PYPD has been the topic of a number of other reports. Citigroup reaffirmed a “market outperform” rating on shares of PolyPid in a report on Monday, December 1st. HC Wainwright reiterated a “buy” rating and issued a $13.00 price objective on shares of PolyPid in a report on Wednesday, February 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of PolyPid in a research report on Monday, December 29th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, PolyPid currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.25.

PolyPid Trading Up 0.5%

PYPD stock opened at $4.19 on Friday. The stock has a market capitalization of $79.95 million, a PE ratio of -1.85 and a beta of 1.49. PolyPid has a 12-month low of $2.30 and a 12-month high of $5.12. The stock’s 50 day simple moving average is $4.45 and its 200 day simple moving average is $3.94.

PolyPid (NASDAQ:PYPD) last issued its earnings results on Wednesday, February 11th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.07). On average, research analysts predict that PolyPid will post -1.79 earnings per share for the current year.

Hedge Funds Weigh In On PolyPid

Hedge funds and other institutional investors have recently modified their holdings of the company. AIGH Capital Management LLC boosted its stake in shares of PolyPid by 26.1% in the 4th quarter. AIGH Capital Management LLC now owns 1,342,972 shares of the company’s stock worth $5,828,000 after buying an additional 277,844 shares during the last quarter. ADAR1 Capital Management LLC bought a new stake in shares of PolyPid in the fourth quarter worth $451,000. Lumbard & Kellner LLC purchased a new stake in PolyPid during the second quarter valued at $135,000. Jane Street Group LLC bought a new position in PolyPid in the fourth quarter valued at about $66,000. Finally, XTX Topco Ltd lifted its holdings in PolyPid by 50.0% in the fourth quarter. XTX Topco Ltd now owns 32,661 shares of the company’s stock valued at $142,000 after acquiring an additional 10,888 shares during the period. 26.47% of the stock is owned by institutional investors.

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.