PolyPid Ltd. (NASDAQ:PYPD) Sees Significant Growth in Short Interest

PolyPid Ltd. (NASDAQ:PYPD) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 283,206 shares, an increase of 235.2% from the June 30th total of 84,501 shares. Based on an average daily trading volume, of 255,249 shares, the days-to-cover ratio is presently 1.1 days. Approximately 2.0% of the company’s stock are short sold.

Hedge Funds Weigh In On PolyPid

Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its stake in shares of PolyPid by 56.1% in the third 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 during the last quarter. HighTower Advisors LLC purchased a new position in PolyPid during the fourth quarter valued at approximately $44,000. Jane Street Group LLC purchased a new position in PolyPid during the fourth quarter valued at approximately $66,000. Renaissance Technologies LLC acquired a new position in PolyPid in the first quarter valued at approximately $81,000. Finally, XTX Topco Ltd boosted its position in PolyPid by 50.0% in the 4th quarter. XTX Topco Ltd now owns 32,661 shares of the company’s stock worth $142,000 after purchasing an additional 10,888 shares in the last quarter. Institutional investors and hedge funds own 26.47% of the company’s stock.

Analysts Set New Price Targets

PYPD has been the topic of a number of research analyst reports. Weiss Ratings upgraded PolyPid from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price objective on shares of PolyPid in a research report on Tuesday, July 21st. Finally, Craig Hallum set a $12.00 target price on shares of PolyPid in a research note on Wednesday, July 22nd. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.33.

PolyPid Stock Up 2.1%

Shares of PolyPid stock traded up $0.08 on Monday, reaching $3.98. 91,139 shares of the stock were exchanged, compared to its average volume of 122,318. The business has a 50 day moving average price of $4.84 and a two-hundred day moving average price of $4.58. The firm has a market capitalization of $75.94 million, a price-to-earnings ratio of -2.08 and a beta of 1.40. PolyPid has a twelve month low of $3.06 and a twelve month high of $5.73.

PolyPid (NASDAQ:PYPD) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.12. Research analysts forecast that PolyPid will post -0.77 EPS for the current 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.