PolyPid (NASDAQ:PYPD) Rating Lowered to Sell at Zacks Investment Research

PolyPid (NASDAQ:PYPD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, Zacks.com reports.

According to Zacks, “PolyPid Ltd. is a pharmaceutical company. It discovers, develops and commercializes antibiotic drugs for the prevention of surgical infections. The company’s product candidate includes D-PLEX100, BONYPID-1000 and BONYPID-500 which are in clinical stage. PolyPid Ltd. is based in Petach Tikva, Israel. “

Separately, Raymond James upgraded PolyPid from an “outperform” rating to a “strong-buy” rating in a research note on Tuesday, November 24th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $25.50.

Shares of PYPD opened at $14.32 on Tuesday. PolyPid has a 12-month low of $8.64 and a 12-month high of $19.45. The stock’s 50-day moving average price is $10.83 and its 200 day moving average price is $11.38.

PolyPid (NASDAQ:PYPD) last released its quarterly earnings data on Wednesday, February 10th. The company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.73) by $0.32. Analysts anticipate that PolyPid will post -1.8 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. bought a new stake in PolyPid during the 4th quarter worth approximately $700,000. Federated Hermes Inc. bought a new stake in PolyPid during the 3rd quarter worth approximately $495,000. BlackRock Inc. bought a new stake in PolyPid during the 3rd quarter worth approximately $48,000. Finally, ARK Investment Management LLC bought a new stake in PolyPid during the 3rd quarter worth approximately $445,000. Institutional investors and hedge funds own 3.60% of the company’s stock.

PolyPid Company Profile

PolyPid Ltd. develops, manufactures, and commercializes products based on polymer-lipid encapsulation matrix (PLEX) platform to address unmet medical needs. Its lead product includes D-PLEX100, which is in pivotal Phase 3 clinical trial for the prevention of sternal (bone) surgical site infections (SSIs), as well as for the prevention of abdominal (soft tissue) SSIs.

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