Symmetry Peak Management LLC Acquires New Stake in PolyPid Ltd. $PYPD

Symmetry Peak Management LLC bought a new position in PolyPid Ltd. (NASDAQ:PYPD) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 100,881 shares of the company’s stock, valued at approximately $512,000. Symmetry Peak Management LLC owned about 0.53% of PolyPid at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its position in shares of PolyPid by 56.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,734 shares of the company’s stock valued at $32,000 after buying an additional 3,500 shares during the last quarter. HighTower Advisors LLC bought a new stake in PolyPid in the 4th quarter valued at about $44,000. Jane Street Group LLC purchased a new stake in PolyPid during the fourth quarter valued at about $66,000. Renaissance Technologies LLC purchased a new stake in PolyPid during the first quarter valued at about $81,000. Finally, XTX Topco Ltd boosted its position in PolyPid by 50.0% during the fourth quarter. XTX Topco Ltd now owns 32,661 shares of the company’s stock worth $142,000 after purchasing an additional 10,888 shares during the period. 26.47% of the stock is currently owned by institutional investors.

PolyPid Price Performance

Shares of PolyPid stock opened at $5.11 on Thursday. PolyPid Ltd. has a 1 year low of $3.06 and a 1 year high of $5.73. The firm has a market cap of $97.50 million, a PE ratio of -3.45 and a beta of 1.41. The company has a 50 day simple moving average of $4.80 and a two-hundred day simple moving average of $4.59.

PolyPid (NASDAQ:PYPD) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.03. As a group, research analysts anticipate that PolyPid Ltd. will post -0.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PYPD. HC Wainwright reissued a “buy” rating and issued a $13.00 price target on shares of PolyPid in a research report on Tuesday, July 21st. Weiss Ratings raised shares of PolyPid from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. Finally, Craig Hallum set a $12.00 price objective on shares of PolyPid in a research note on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $11.33.

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.