Short Interest in PolyPid Ltd. (NASDAQ:PYPD) Expands By 44.8%

PolyPid Ltd. (NASDAQ:PYPD) saw a large increase in short interest during the month of January. As of January 30th, there was short interest totaling 27,918 shares, an increase of 44.8% from the January 15th total of 19,282 shares. Based on an average daily trading volume, of 73,830 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.2% of the shares of the company are sold short. Currently, 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 73,830 shares, the days-to-cover ratio is currently 0.4 days.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PYPD shares. HC Wainwright reiterated a “buy” rating and set a $13.00 price objective on shares of PolyPid in a research note on Wednesday, February 11th. Wall Street Zen raised PolyPid from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Roth Mkm cut their price target on PolyPid from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Citigroup restated a “market outperform” rating on shares of PolyPid in a research report on Monday, December 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PolyPid in a research report on Monday, December 29th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.25.

PolyPid Price Performance

Shares of PYPD stock opened at $4.43 on Tuesday. PolyPid has a 12-month low of $2.30 and a 12-month high of $5.12. The firm has a market capitalization of $70.44 million, a price-to-earnings ratio of -1.96 and a beta of 1.52. The business has a 50 day simple moving average of $4.38 and a 200 day simple moving average of $3.82.

PolyPid (NASDAQ:PYPD) last announced its quarterly earnings results on Wednesday, February 11th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.07). On average, equities analysts anticipate that PolyPid will post -1.79 EPS for the current fiscal year.

Hedge Funds Weigh In On PolyPid

Several large investors have recently bought and sold shares of PYPD. AIGH Capital Management LLC lifted its stake in shares of PolyPid by 26.1% in the 4th quarter. AIGH Capital Management LLC now owns 1,342,972 shares of the company’s stock worth $5,828,000 after acquiring an additional 277,844 shares during the period. Lumbard & Kellner LLC acquired a new stake in PolyPid in the second quarter worth approximately $135,000. Jane Street Group LLC bought a new position in PolyPid during the 4th quarter valued at $66,000. HighTower Advisors LLC acquired a new position in shares of PolyPid during the 4th quarter valued at $44,000. Finally, BNP Paribas Financial Markets raised its stake in shares of PolyPid by 56.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,734 shares of the company’s stock worth $32,000 after buying an additional 3,500 shares in the last quarter. Institutional investors and hedge funds own 26.47% of the company’s stock.

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.