PolyPid (NASDAQ:PYPD) Stock Price Down 0.8% – Should You Sell?

PolyPid Ltd. (NASDAQ:PYPD) shares traded down 0.8% during mid-day trading on Monday . The company traded as low as $5.12 and last traded at $5.17. Approximately 40,643 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 102,247 shares. The stock had previously closed at $5.21.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of PolyPid in a research report on Friday. Craig Hallum set a $12.00 target price on PolyPid in a research note on Wednesday, July 22nd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $13.00 price target on shares of PolyPid in a report on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.33.

PolyPid Stock Down 3.3%

The firm’s fifty day simple moving average is $4.87 and its 200-day simple moving average is $4.71. The company has a market cap of $100.55 million, a PE ratio of -3.56 and a beta of 1.41.

PolyPid (NASDAQ:PYPD) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.03. On average, analysts predict that PolyPid Ltd. will post -0.92 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 business. AIGH Capital Management LLC purchased a new position in shares of PolyPid during the second quarter worth approximately $7,644,000. ADAR1 Capital Management LLC acquired a new position in shares of PolyPid in the second quarter worth about $528,000. Symmetry Peak Management LLC acquired a new position in shares of PolyPid during the 2nd quarter valued at about $512,000. J. Goldman & Co LP acquired a new position in shares of PolyPid in the second quarter valued at $504,000. Finally, Connective Capital Management LLC bought a new position in PolyPid in the 2nd quarter valued at $343,000. 26.47% of the stock is owned by institutional investors.

PolyPid Company Profile

PolyPid Ltd. is an Israeli clinical-stage biopharmaceutical company developing locally administered therapies designed to provide controlled and sustained drug delivery at treatment sites. The company’s proprietary PLEX polymer-lipid encapsulation matrix is intended to release therapeutic agents over an extended period, with the goal of improving treatment effectiveness and reducing the need for repeated systemic dosing.

PolyPid’s lead product candidate is D-PLEX100, an investigational formulation containing doxycycline that is designed for administration at surgical sites.