PolyPid Ltd. (NASDAQ:PYPD) Short Interest Update

PolyPid Ltd. (NASDAQ:PYPD) was the target of a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 84,501 shares, a decrease of 42.3% from the June 15th total of 146,384 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average trading volume of 203,032 shares, the short-interest ratio is currently 0.4 days.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of PolyPid from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $11.67.

PolyPid Stock Performance

PolyPid stock traded up $0.21 during midday trading on Friday, hitting $5.40. 213,912 shares of the company’s stock were exchanged, compared to its average volume of 101,455. The company has a market cap of $103.03 million, a P/E ratio of -2.83 and a beta of 1.40. The stock has a 50-day moving average price of $4.84 and a two-hundred day moving average price of $4.58. PolyPid has a 52-week low of $3.06 and a 52-week high of $5.73.

PolyPid (NASDAQ:PYPD) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.12. As a group, sell-side analysts expect that PolyPid will post -1.34 earnings per share for the current year.

Institutional Investors Weigh In On PolyPid

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC bought a new stake in PolyPid during the first quarter valued at approximately $81,000. AIGH Capital Management LLC increased its holdings in shares of PolyPid by 18.7% in the 1st quarter. AIGH Capital Management LLC now owns 1,593,587 shares of the company’s stock worth $6,980,000 after buying an additional 250,615 shares during the last quarter. XTX Topco Ltd raised 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 buying an additional 10,888 shares in the last quarter. ADAR1 Capital Management LLC purchased a new stake in shares of PolyPid during the 4th quarter valued at $451,000. Finally, Jane Street Group LLC bought a new stake in shares of PolyPid during the 4th quarter worth $66,000. 26.47% of the stock is owned by hedge funds and other institutional investors.

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.