PolyPid Ltd. (NASDAQ:PYPD) Sees Large Increase in Short Interest

PolyPid Ltd. (NASDAQ:PYPD) saw a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 3,900 shares, an increase of 95.0% from the March 31st total of 2,000 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 14,300 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Ratings Changes

A number of research firms have issued reports on PYPD. HC Wainwright reiterated a “buy” rating and issued a $11.00 target price on shares of PolyPid in a research note on Monday, April 14th. RODMAN&RENSHAW raised shares of PolyPid to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Rodman & Renshaw assumed coverage on shares of PolyPid in a research note on Tuesday, January 28th. They set a “buy” rating and a $13.00 target price for the company.

PolyPid Stock Down 3.1 %

PolyPid stock opened at $2.52 on Tuesday. The firm has a market cap of $25.68 million, a PE ratio of -0.51 and a beta of 1.28. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.00 and a current ratio of 1.31. The firm’s 50 day moving average price is $2.78 and its two-hundred day moving average price is $3.04. PolyPid has a twelve month low of $2.30 and a twelve month high of $5.09.

PolyPid (NASDAQ:PYPD) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.23). On average, research analysts predict that PolyPid will post -1.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Rosalind Advisors Inc. grew its stake in PolyPid by 50.6% in the 4th quarter. Rosalind Advisors Inc. now owns 1,022,521 shares of the company’s stock valued at $3,108,000 after buying an additional 343,353 shares during the last quarter. AIGH Capital Management LLC increased its stake in PolyPid by 21.8% during the fourth quarter. AIGH Capital Management LLC now owns 827,867 shares of the company’s stock valued at $2,509,000 after acquiring an additional 148,199 shares during the period. Finally, J. Goldman & Co LP bought a new position in PolyPid during the fourth quarter valued at about $391,000. Institutional investors and hedge funds own 26.47% of the company’s stock.

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.