Short Interest in PolyPid Ltd. (NASDAQ:PYPD) Rises By 33.3%

PolyPid Ltd. (NASDAQ:PYPD) saw a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 9,200 shares, a growth of 33.3% from the February 13th total of 6,900 shares. Based on an average daily volume of 29,000 shares, the short-interest ratio is currently 0.3 days. Approximately 0.2% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PYPD shares. HC Wainwright reduced their price objective on shares of PolyPid from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, December 26th. Rodman & Renshaw started coverage on shares of PolyPid in a research report on Tuesday, January 28th. They issued a “buy” rating and a $13.00 price target for the company. Finally, RODMAN&RENSHAW raised PolyPid to a “strong-buy” rating in a report on Tuesday, January 28th.

Hedge Funds Weigh In On PolyPid

Several institutional investors have recently added to or reduced their stakes in PYPD. J. Goldman & Co LP acquired a new position in shares of PolyPid in the fourth quarter valued at approximately $391,000. Stonepine Capital Management LLC purchased a new position in PolyPid in the 3rd quarter valued at $476,000. AIGH Capital Management LLC increased its stake in PolyPid by 21.8% in the 4th quarter. AIGH Capital Management LLC now owns 827,867 shares of the company’s stock valued at $2,509,000 after buying an additional 148,199 shares during the period. Finally, Rosalind Advisors Inc. raised its position in PolyPid by 49.9% during the 4th quarter. Rosalind Advisors Inc. now owns 1,018,021 shares of the company’s stock worth $3,095,000 after buying an additional 338,853 shares during the last quarter. Institutional investors and hedge funds own 26.47% of the company’s stock.

PolyPid Stock Performance

Shares of PolyPid stock traded down $0.13 during trading on Tuesday, reaching $2.94. The company’s stock had a trading volume of 13,011 shares, compared to its average volume of 13,280. The firm has a market cap of $29.96 million, a PE ratio of -0.59 and a beta of 1.27. The company has a 50-day moving average price of $3.02 and a two-hundred day moving average price of $3.22. The company has a current ratio of 1.31, a quick ratio of 1.00 and a debt-to-equity ratio of 0.08. PolyPid has a fifty-two week low of $2.37 and a fifty-two week high of $5.50.

PolyPid (NASDAQ:PYPD) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.23). On average, analysts forecast that PolyPid will post -1.79 EPS for the current year.

About PolyPid

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.