Short Interest in PolyPid Ltd. (NASDAQ:PYPD) Drops By 68.9%

PolyPid Ltd. (NASDAQ:PYPD) saw a significant decrease in short interest in January. As of January 31st, there was short interest totalling 6,800 shares, a decrease of 68.9% from the January 15th total of 21,900 shares. Based on an average trading volume of 30,400 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.2% of the company’s shares are short sold.

PolyPid Stock Up 3.1 %

Shares of PYPD stock traded up $0.09 during trading hours on Wednesday, hitting $2.97. 10,471 shares of the company’s stock traded hands, compared to its average volume of 22,692. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17. The stock’s fifty day simple moving average is $3.02 and its two-hundred day simple moving average is $3.32. PolyPid has a 12-month low of $2.37 and a 12-month high of $7.00. The stock has a market cap of $30.26 million, a price-to-earnings ratio of -0.38 and a beta of 1.32.

PolyPid (NASDAQ:PYPD) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.23). On average, analysts expect that PolyPid will post -4.56 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. RODMAN&RENSHAW raised shares of PolyPid to a “strong-buy” rating in a research report on Tuesday, January 28th. Rodman & Renshaw assumed coverage on PolyPid in a report on Tuesday, January 28th. They set a “buy” rating and a $13.00 target price on the stock. Craig Hallum initiated coverage on PolyPid in a research note on Monday, November 4th. They issued a “buy” rating and a $10.00 target price for the company. Finally, HC Wainwright dropped their price target on PolyPid from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, December 26th.

Hedge Funds Weigh In On PolyPid

Hedge funds have recently bought and sold shares of the company. Stonepine Capital Management LLC bought a new stake in shares of PolyPid during the third quarter valued at approximately $476,000. Rosalind Advisors Inc. raised its stake in shares of PolyPid by 62.9% in the third quarter. Rosalind Advisors Inc. now owns 679,168 shares of the company’s stock worth $2,336,000 after purchasing an additional 262,368 shares during the last quarter. Finally, AIGH Capital Management LLC lifted its holdings in shares of PolyPid by 21.8% during the fourth quarter. AIGH Capital Management LLC now owns 827,867 shares of the company’s stock valued at $2,509,000 after purchasing an additional 148,199 shares in the last quarter. Institutional investors own 26.47% of the company’s stock.

PolyPid Company Profile

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.