PolyPid Ltd. (NASDAQ:PYPD) Short Interest Down 42.3% in June

PolyPid Ltd. (NASDAQ:PYPD) saw a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 84,501 shares, a decline of 42.3% from the June 15th total of 146,384 shares. Based on an average daily volume of 203,032 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.6% of the company’s stock are sold short.

Hedge Funds Weigh In On PolyPid

Several large investors have recently added to or reduced their stakes in PYPD. BNP Paribas Financial Markets raised its holdings in shares of PolyPid by 56.1% during the third quarter. BNP Paribas Financial Markets now owns 9,734 shares of the company’s stock worth $32,000 after purchasing an additional 3,500 shares during the period. HighTower Advisors LLC acquired a new position in shares of PolyPid in the 4th quarter valued at about $44,000. XTX Topco Ltd grew its position in shares of PolyPid by 50.0% during the 4th quarter. XTX Topco Ltd now owns 32,661 shares of the company’s stock valued at $142,000 after buying an additional 10,888 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of PolyPid during the 4th quarter valued at about $66,000. Finally, Renaissance Technologies LLC acquired a new stake in PolyPid during the first quarter worth about $81,000. 26.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded PolyPid from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 23rd. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, PolyPid has an average rating of “Moderate Buy” and a consensus price target of $11.67.

PolyPid Price Performance

NASDAQ:PYPD traded down $0.02 during mid-day trading on Thursday, reaching $5.19. The stock had a trading volume of 183,910 shares, compared to its average volume of 100,541. The company has a market capitalization of $99.04 million, a price-to-earnings ratio of -2.72 and a beta of 1.40. PolyPid has a 1-year low of $3.06 and a 1-year high of $5.61. The stock’s 50 day simple moving average is $4.82 and its two-hundred day simple moving average is $4.57.

PolyPid (NASDAQ:PYPD) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.12. Sell-side analysts anticipate that PolyPid will post -1.34 EPS for the current fiscal 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.