HC Wainwright Has Lowered Expectations for PolyPid (NASDAQ:PYPD) Stock Price

PolyPid (NASDAQ:PYPD) had its price objective cut by HC Wainwright from $14.00 to $11.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Separately, Craig Hallum began coverage on PolyPid in a report on Monday, November 4th. They set a “buy” rating and a $10.00 price objective for the company.

PolyPid Price Performance

PYPD stock opened at $2.89 on Thursday. The stock has a 50-day moving average price of $3.24 and a two-hundred day moving average price of $3.51. PolyPid has a 1 year low of $2.37 and a 1 year high of $9.20. The stock has a market cap of $13.86 million, a PE ratio of -0.37 and a beta of 1.33. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17.

Institutional Investors Weigh In On PolyPid

A hedge fund recently bought a new stake in PolyPid stock. Stonepine Capital Management LLC purchased a new position in shares of PolyPid Ltd. (NASDAQ:PYPD) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 138,504 shares of the company’s stock, valued at approximately $476,000. Stonepine Capital Management LLC owned about 2.89% of PolyPid as of its most recent SEC filing. Hedge funds and other institutional investors own 26.47% of the company’s stock.

About PolyPid

PolyPid Ltd., a clinical-stage biopharmaceutical company, developing targeted, locally administered, and prolonged-release therapeutics using its proprietary polymer-lipid encapsulation matrix (PLEX) technology to address unmet medical needs. Its lead product candidate is D-PLEX100, which is in a pivotal Phase 3 confirmatory trial for prevention of surgical site infections (SSIs) in patients undergoing abdominal colorectal surgery with large incisions.