PolyPid (NASDAQ:PYPD) Trading Up 3.3% – Here’s Why

PolyPid Ltd. (NASDAQ:PYPD)’s stock price was up 3.3% during mid-day trading on Thursday . The company traded as high as $4.37 and last traded at $4.37. Approximately 13,903 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 56,428 shares. The stock had previously closed at $4.23.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PYPD shares. Weiss Ratings restated a “sell (d-)” rating on shares of PolyPid in a research note on Monday, December 29th. HC Wainwright restated a “buy” rating and issued a $13.00 price target on shares of PolyPid in a research note on Wednesday, February 11th. Finally, Wall Street Zen upgraded shares of PolyPid from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $12.25.

PolyPid Price Performance

The stock has a market cap of $82.25 million, a price-to-earnings ratio of -1.91 and a beta of 1.45. The business’s fifty day simple moving average is $4.34 and its 200 day simple moving average is $4.05.

PolyPid (NASDAQ:PYPD) last released its quarterly earnings data on Wednesday, February 11th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.07). As a group, equities analysts forecast that PolyPid Ltd. will post -1.79 EPS for the current fiscal year.

Hedge Funds Weigh In On PolyPid

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its holdings in 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 purchasing an additional 3,500 shares during the period. HighTower Advisors LLC acquired a new position in PolyPid in the fourth quarter worth $44,000. Jane Street Group LLC acquired a new position in PolyPid in the fourth quarter worth $66,000. XTX Topco Ltd boosted its holdings in 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 purchasing an additional 10,888 shares during the period. Finally, ADAR1 Capital Management LLC acquired a new position in PolyPid in the fourth quarter worth $451,000. Institutional investors and hedge funds own 26.47% of the company’s stock.

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.