PolyPid Ltd. (NASDAQ:PYPD) Short Interest Down 68.9% in January

PolyPid Ltd. (NASDAQ:PYPD) saw a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 6,800 shares, a decline of 68.9% from the January 15th total of 21,900 shares. Based on an average trading volume of 30,400 shares, the short-interest ratio is presently 0.2 days. Approximately 0.2% of the shares of the company are sold short.

Wall Street Analyst Weigh In

PYPD has been the topic of a number of recent research reports. RODMAN&RENSHAW raised PolyPid to a “strong-buy” rating in a report on Tuesday, January 28th. HC Wainwright lowered their price objective on shares of PolyPid from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, December 26th. Rodman & Renshaw began coverage on shares of PolyPid in a report on Tuesday, January 28th. They issued a “buy” rating and a $13.00 price objective on the stock. Finally, Craig Hallum began coverage on shares of PolyPid in a report on Monday, November 4th. They set a “buy” rating and a $10.00 target price for the company.

PolyPid Stock Performance

Shares of NASDAQ PYPD traded up $0.09 during trading on Wednesday, hitting $2.97. The company had a trading volume of 10,471 shares, compared to its average volume of 22,692. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 1.00. PolyPid has a 12 month low of $2.37 and a 12 month high of $7.00. The firm has a market capitalization of $30.26 million, a P/E ratio of -0.38 and a beta of 1.32. The stock has a 50 day simple moving average of $3.02 and a 200 day simple moving average of $3.32.

PolyPid (NASDAQ:PYPD) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.23). As a group, analysts anticipate that PolyPid will post -4.56 earnings per share for the current year.

Hedge Funds Weigh In On PolyPid

Several hedge funds have recently modified their holdings of the stock. Stonepine Capital Management LLC bought a new stake in PolyPid in the 3rd quarter valued at $476,000. Rosalind Advisors Inc. boosted its holdings in shares of PolyPid by 62.9% during the 3rd quarter. Rosalind Advisors Inc. now owns 679,168 shares of the company’s stock valued at $2,336,000 after purchasing an additional 262,368 shares during the last quarter. Finally, AIGH Capital Management LLC grew its position in shares of PolyPid by 21.8% during the fourth quarter. AIGH Capital Management LLC now owns 827,867 shares of the company’s stock valued at $2,509,000 after purchasing an additional 148,199 shares in the last quarter. Hedge funds and other institutional investors own 26.47% of the company’s stock.

PolyPid Company Profile

PolyPid Ltd., a clinical-stage biopharmaceutical company, developing targeted, locally administered, and prolonged-release therapeutics using its proprietary polymer-lipid encapsulation matrix (PLEX) technology to address unmet medical needs. Its lead product candidate is D-PLEX100, which is in a pivotal Phase 3 confirmatory trial for prevention of surgical site infections (SSIs) in patients undergoing abdominal colorectal surgery with large incisions.