Short Interest in PolyPid Ltd. (NASDAQ:PYPD) Decreases By 44.0%

PolyPid Ltd. (NASDAQ:PYPD) was the target of a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 231,379 shares, a decrease of 44.0% from the July 30th total of 412,853 shares. Currently, 1.6% of the company’s stock are short sold. Based on an average trading volume of 170,743 shares, the short-interest ratio is currently 1.4 days.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PYPD. Craig Hallum set a $12.00 target price on PolyPid in a report on Wednesday, July 22nd. Weiss Ratings upgraded PolyPid from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. Finally, HC Wainwright reiterated a “buy” rating and set a $13.00 price target on shares of PolyPid in a report on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, PolyPid currently has an average rating of “Moderate Buy” and an average target price of $11.33.

Institutional Trading of PolyPid

Several hedge funds have recently added to or reduced their stakes in PYPD. AIGH Capital Management LLC acquired a new position in shares of PolyPid during the second quarter worth approximately $7,644,000. J. Goldman & Co LP bought a new stake in shares of PolyPid in the second quarter valued at approximately $504,000. Symmetry Peak Management LLC acquired a new stake in shares of PolyPid in the second quarter worth $512,000. ADAR1 Capital Management LLC acquired a new stake in shares of PolyPid in the second quarter worth $528,000. Finally, AXQ Capital LP bought a new position in PolyPid during the second quarter worth $87,000. Institutional investors own 26.47% of the company’s stock.

PolyPid Trading Up 0.6%

PolyPid stock traded up $0.03 on Monday, reaching $5.10. 48,194 shares of the stock were exchanged, compared to its average volume of 127,050. The stock has a market cap of $97.31 million, a PE ratio of -3.45 and a beta of 1.41. PolyPid has a twelve month low of $3.06 and a twelve month high of $5.73. The firm has a fifty day moving average price of $4.82 and a two-hundred day moving average price of $4.60.

PolyPid (NASDAQ:PYPD) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.03. Equities analysts anticipate that PolyPid will post -0.92 EPS 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.