PolyPid Ltd. (NASDAQ:PYPD) Short Interest Update

PolyPid Ltd. (NASDAQ:PYPD) was the target of a significant decrease in short interest in April. As of April 30th, there was short interest totaling 30,140 shares, a decrease of 74.4% from the April 15th total of 117,650 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 42,887 shares, the days-to-cover ratio is presently 0.7 days.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PYPD. Wall Street Zen raised PolyPid from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. HC Wainwright reissued a “buy” rating and issued a $13.00 target price on shares of PolyPid in a research note on Wednesday, February 11th. Finally, Weiss Ratings cut PolyPid from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 1st. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $12.25.

Institutional Investors Weigh In On PolyPid

A number of large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its holdings in PolyPid by 56.1% in the third quarter. BNP Paribas Financial Markets now owns 9,734 shares of the company’s stock valued at $32,000 after acquiring an additional 3,500 shares during the period. HighTower Advisors LLC bought a new stake in shares of PolyPid during the 4th quarter valued at about $44,000. XTX Topco Ltd increased 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 purchasing an additional 10,888 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of PolyPid during the 4th quarter valued at about $66,000. Finally, ADAR1 Capital Management LLC purchased a new stake in shares of PolyPid during the 4th quarter valued at about $451,000. Institutional investors own 26.47% of the company’s stock.

PolyPid Price Performance

NASDAQ PYPD traded down $0.34 during trading hours on Wednesday, hitting $4.22. The company’s stock had a trading volume of 127,984 shares, compared to its average volume of 58,029. PolyPid has a 12 month low of $2.44 and a 12 month high of $5.12. The company’s 50 day simple moving average is $4.39 and its two-hundred day simple moving average is $4.23. The company has a market cap of $80.52 million, a P/E ratio of -1.87 and a beta of 1.41.

PolyPid (NASDAQ:PYPD) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.12. As a group, research analysts predict that PolyPid will post -1.5 earnings per share 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.