Short Interest in PolyPid Ltd. (NASDAQ:PYPD) Decreases By 21.8%

PolyPid Ltd. (NASDAQ:PYPD) saw a significant decrease in short interest in February. As of February 27th, there was short interest totaling 23,749 shares, a decrease of 21.8% from the February 12th total of 30,371 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily volume of 42,301 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily volume of 42,301 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.2% of the shares of the stock are short sold.

PolyPid Price Performance

NASDAQ PYPD traded up $0.09 during trading hours on Monday, hitting $4.28. 33,530 shares of the company’s stock traded hands, compared to its average volume of 60,357. PolyPid has a 52-week low of $2.30 and a 52-week high of $5.12. The company has a market capitalization of $81.66 million, a PE ratio of -1.89 and a beta of 1.49. The firm’s 50-day moving average is $4.45 and its 200-day moving average is $3.94.

PolyPid (NASDAQ:PYPD) last released its earnings results on Wednesday, February 11th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.07). Equities research analysts predict that PolyPid will post -1.79 earnings per share for the current fiscal year.

Institutional Trading of PolyPid

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its holdings in shares of PolyPid by 56.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,734 shares of the company’s stock worth $32,000 after acquiring an additional 3,500 shares during the period. HighTower Advisors LLC purchased a new stake in shares of PolyPid in the fourth quarter valued at about $44,000. Jane Street Group LLC acquired a new stake in PolyPid during the fourth quarter worth about $66,000. Lumbard & Kellner LLC acquired a new stake in PolyPid during the second quarter worth about $135,000. Finally, XTX Topco Ltd raised its stake in PolyPid by 50.0% during the fourth quarter. XTX Topco Ltd now owns 32,661 shares of the company’s stock worth $142,000 after purchasing an additional 10,888 shares during the period. 26.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PYPD shares. Wall Street Zen raised PolyPid from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of PolyPid in a research report on Monday, December 29th. Citigroup reissued a “market outperform” rating on shares of PolyPid in a research note on Monday, December 1st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $13.00 price target on shares of PolyPid in a research note on Wednesday, February 11th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.25.

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.