PolyPid (NASDAQ:PYPD) Downgraded by Wall Street Zen to Sell

Wall Street Zen cut shares of PolyPid (NASDAQ:PYPD) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

Several other research analysts have also recently weighed in on PYPD. Roth Capital restated a “buy” rating on shares of PolyPid in a report on Thursday, August 14th. HC Wainwright reiterated a “buy” rating and set a $13.00 price target on shares of PolyPid in a report on Wednesday, August 13th. Craig Hallum reissued a “buy” rating and issued a $13.00 price objective (down previously from $15.00) on shares of PolyPid in a report on Thursday, August 14th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of PolyPid in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $12.40.

PolyPid Stock Performance

PolyPid stock traded down $0.15 during trading on Friday, reaching $3.65. The company had a trading volume of 53,329 shares, compared to its average volume of 104,784. The firm has a market capitalization of $58.04 million, a PE ratio of -0.95 and a beta of 1.53. The firm’s 50-day simple moving average is $3.46 and its 200 day simple moving average is $3.32. PolyPid has a 1-year low of $2.30 and a 1-year high of $3.93.

PolyPid (NASDAQ:PYPD) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.25). Analysts anticipate that PolyPid will post -1.79 EPS for the current year.

Institutional Investors Weigh In On PolyPid

An institutional investor recently bought a new position in PolyPid stock. Lumbard & Kellner LLC purchased a new stake in PolyPid Ltd. (NASDAQ:PYPD) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 38,200 shares of the company’s stock, valued at approximately $135,000. Lumbard & Kellner LLC owned 0.24% of PolyPid as of its most recent filing with the SEC. 26.47% of the stock is currently owned by hedge funds and other institutional investors.

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.