PolyPid Ltd. (NASDAQ:PYPD) Sees Large Decrease in Short Interest

PolyPid Ltd. (NASDAQ:PYPD) saw a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 2,700 shares, a drop of 70.7% from the February 28th total of 9,200 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 26,300 shares, the short-interest ratio is presently 0.1 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Stonepine Capital Management LLC acquired a new stake in PolyPid during the third quarter worth approximately $476,000. Rosalind Advisors Inc. grew its position in shares of PolyPid by 50.6% during the 4th quarter. Rosalind Advisors Inc. now owns 1,022,521 shares of the company’s stock worth $3,108,000 after buying an additional 343,353 shares during the period. AIGH Capital Management LLC increased its stake in shares of PolyPid by 21.8% in the 4th quarter. AIGH Capital Management LLC now owns 827,867 shares of the company’s stock valued at $2,509,000 after acquiring an additional 148,199 shares in the last quarter. Finally, J. Goldman & Co LP acquired a new position in shares of PolyPid during the 4th quarter valued at $391,000. 26.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PYPD shares. HC Wainwright dropped their price objective on PolyPid from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, December 26th. RODMAN&RENSHAW upgraded shares of PolyPid to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Rodman & Renshaw initiated coverage on shares of PolyPid in a research note on Tuesday, January 28th. They issued a “buy” rating and a $13.00 price objective for the company.

PolyPid Trading Up 0.4 %

Shares of PolyPid stock traded up $0.01 during trading on Friday, hitting $2.73. The company’s stock had a trading volume of 30,864 shares, compared to its average volume of 18,118. The stock has a market cap of $27.82 million, a price-to-earnings ratio of -0.55 and a beta of 1.27. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.31 and a quick ratio of 1.00. PolyPid has a 52 week low of $2.37 and a 52 week high of $5.09. The stock has a 50-day moving average price of $2.98 and a two-hundred day moving average price of $3.19.

PolyPid (NASDAQ:PYPD) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.23). Equities research analysts anticipate that PolyPid will post -1.79 EPS for the current fiscal year.

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.