PolyPid Ltd. (NASDAQ:PYPD) Short Interest Update

PolyPid Ltd. (NASDAQ:PYPD) was the target of a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 30,140 shares, a drop of 74.4% from the April 15th total of 117,650 shares. Based on an average trading volume of 42,887 shares, the short-interest ratio is currently 0.7 days. Approximately 0.2% of the company’s stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PYPD. BNP Paribas Financial Markets grew its position in PolyPid by 56.1% in the third quarter. BNP Paribas Financial Markets now owns 9,734 shares of the company’s stock valued at $32,000 after purchasing an additional 3,500 shares in the last quarter. HighTower Advisors LLC bought a new position in PolyPid in the fourth quarter valued at $44,000. Jane Street Group LLC bought a new position in PolyPid in the fourth quarter valued at $66,000. Renaissance Technologies LLC bought a new position in PolyPid in the first quarter valued at $81,000. Finally, XTX Topco Ltd grew its position in PolyPid by 50.0% in the fourth quarter. XTX Topco Ltd now owns 32,661 shares of the company’s stock valued at $142,000 after purchasing an additional 10,888 shares in the last quarter. Institutional investors own 26.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PYPD shares. Weiss Ratings lowered shares of PolyPid from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 1st. Wall Street Zen upgraded shares of PolyPid from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Finally, HC Wainwright restated a “buy” rating and set a $13.00 price objective on shares of PolyPid in a report on Wednesday, February 11th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.25.

PolyPid Stock Up 3.8%

Shares of NASDAQ:PYPD traded up $0.16 during midday trading on Thursday, reaching $4.38. 94,510 shares of the company were exchanged, compared to its average volume of 46,288. PolyPid has a fifty-two week low of $2.44 and a fifty-two week high of $5.12. The stock has a fifty day simple moving average of $4.39 and a two-hundred day simple moving average of $4.24. The firm has a market cap of $83.57 million, a PE ratio of -2.29 and a beta of 1.41.

PolyPid (NASDAQ:PYPD) last released its earnings results on Wednesday, May 13th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.12. As a group, analysts forecast that PolyPid will post -1.5 earnings per share 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.