PolyPid Ltd. (NASDAQ:PYPD) Short Interest Update

PolyPid Ltd. (NASDAQ:PYPD) was the target of a large increase in short interest in May. As of May 29th, there was short interest totaling 138,198 shares, an increase of 208.1% from the May 14th total of 44,850 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily volume of 180,252 shares, the days-to-cover ratio is presently 0.8 days.

Analyst Upgrades and Downgrades

PYPD has been the subject of a number of analyst reports. Weiss Ratings lowered shares of PolyPid from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 1st. Wall Street Zen upgraded shares of PolyPid from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, PolyPid currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.25.

Institutional Trading of PolyPid

A number of large investors have recently made changes to their positions in PYPD. BNP Paribas Financial Markets grew its stake in shares of PolyPid by 56.1% in the third 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 bought a new stake in shares of PolyPid in the fourth quarter worth approximately $44,000. Jane Street Group LLC bought a new stake in shares of PolyPid in the fourth quarter worth approximately $66,000. Renaissance Technologies LLC bought a new stake in shares of PolyPid in the first quarter worth approximately $81,000. Finally, XTX Topco Ltd grew its stake in shares of PolyPid by 50.0% in the fourth quarter. XTX Topco Ltd now owns 32,661 shares of the company’s stock worth $142,000 after acquiring an additional 10,888 shares during the period. 26.47% of the stock is currently owned by institutional investors.

PolyPid Stock Performance

Shares of PYPD stock traded up $0.05 during trading hours on Friday, reaching $4.62. The company had a trading volume of 61,871 shares, compared to its average volume of 160,086. The business has a fifty day moving average price of $4.58 and a 200-day moving average price of $4.39. PolyPid has a one year low of $3.06 and a one year high of $5.21. The firm has a market cap of $88.15 million, a PE ratio of -2.42 and a beta of 1.42.

PolyPid (NASDAQ:PYPD) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.12. Equities research analysts forecast that PolyPid will post -1.34 EPS for the current year.

PolyPid Company Profile

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.