PolyPid Ltd. (NASDAQ:PYPD) Sees Large Drop in Short Interest

PolyPid Ltd. (NASDAQ:PYPD) was the target of a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 23,749 shares, a decline of 21.8% from the February 12th total of 30,371 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average trading volume of 42,301 shares, the days-to-cover ratio is currently 0.6 days. Based on an average trading volume of 42,301 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.2% of the shares of the company are short sold.

PolyPid Trading Up 0.5%

Shares of NASDAQ:PYPD traded up $0.02 during midday trading on Friday, hitting $4.19. The stock had a trading volume of 62,692 shares, compared to its average volume of 44,035. PolyPid has a 1 year low of $2.30 and a 1 year high of $5.12. The stock has a 50 day moving average price of $4.45 and a two-hundred day moving average price of $3.94. The company has a market capitalization of $79.95 million, a PE ratio of -1.85 and a beta of 1.49.

PolyPid (NASDAQ:PYPD) last posted its quarterly earnings results on Wednesday, February 11th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.07). As a group, equities analysts expect that PolyPid will post -1.79 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on PYPD shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of PolyPid in a research report on Monday, December 29th. Citigroup restated a “market outperform” rating on shares of PolyPid in a research note on Monday, December 1st. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price objective on shares of PolyPid in a research note on Wednesday, February 11th. Finally, Wall Street Zen raised PolyPid from a “sell” rating to a “hold” rating in a research report on Saturday. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, PolyPid has a consensus rating of “Moderate Buy” and a consensus target price of $12.25.

Institutional Trading of PolyPid

A number of institutional investors have recently modified their holdings of PYPD. AIGH Capital Management LLC grew its holdings in PolyPid by 26.1% during the fourth 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. ADAR1 Capital Management LLC purchased a new stake in shares of PolyPid during the 4th quarter worth $451,000. Lumbard & Kellner LLC acquired a new position in shares of PolyPid during the 2nd quarter worth $135,000. XTX Topco Ltd increased its holdings in shares of PolyPid by 50.0% in 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 in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of PolyPid in the fourth quarter valued at about $66,000. 26.47% of the stock is currently 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.