Short Interest in PolyPid Ltd. (NASDAQ:PYPD) Rises By 61.5%

PolyPid Ltd. (NASDAQ:PYPDGet Free Report) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 57,800 shares, a growth of 61.5% from the September 30th total of 35,800 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily trading volume, of 62,200 shares, the days-to-cover ratio is presently 0.9 days. Based on an average daily trading volume, of 62,200 shares, the days-to-cover ratio is presently 0.9 days. Currently, 1.0% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PYPD shares. HC Wainwright reissued a “buy” rating and issued a $13.00 target price on shares of PolyPid in a report on Wednesday, August 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of PolyPid in a report on Wednesday, October 8th. Wall Street Zen raised PolyPid from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Craig Hallum reissued a “buy” rating and issued a $13.00 target price (down previously from $15.00) on shares of PolyPid in a report on Thursday, August 14th. Finally, Roth Capital reissued a “buy” rating on shares of PolyPid in a report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, PolyPid presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.40.

View Our Latest Stock Analysis on PYPD

Institutional Investors Weigh In On PolyPid

An institutional investor recently raised its position in PolyPid stock. AIGH Capital Management LLC lifted its holdings in shares of PolyPid Ltd. (NASDAQ:PYPDFree Report) by 27.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,194,108 shares of the company’s stock after buying an additional 253,727 shares during the period. PolyPid makes up approximately 1.9% of AIGH Capital Management LLC’s holdings, making the stock its 21st largest position. AIGH Capital Management LLC owned approximately 11.72% of PolyPid worth $4,215,000 as of its most recent filing with the SEC. Institutional investors own 26.47% of the company’s stock.

PolyPid Stock Performance

Shares of PYPD opened at $3.79 on Tuesday. PolyPid has a fifty-two week low of $2.30 and a fifty-two week high of $3.93. The company has a market capitalization of $60.26 million, a price-to-earnings ratio of -0.99 and a beta of 1.53. The firm has a 50-day simple moving average of $3.43 and a 200-day simple moving average of $3.30.

PolyPid (NASDAQ:PYPDGet Free Report) last announced its earnings results on Wednesday, August 13th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.25). Equities research analysts forecast that PolyPid will post -1.79 EPS for the current year.

PolyPid Company Profile

(Get Free Report)

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.

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