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

PolyPid Ltd. (NASDAQ:PYPD) was the target of a significant drop in short interest in the month of June. As of June 15th, there was short interest totalling 4,600 shares, a drop of 14.8% from the May 31st total of 5,400 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average daily trading volume, of 3,400 shares, the short-interest ratio is currently 1.4 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in PolyPid stock. Rosalind Advisors Inc. purchased a new position in shares of PolyPid Ltd. (NASDAQ:PYPD) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 415,800 shares of the company’s stock, valued at approximately $1,913,000. PolyPid accounts for approximately 1.8% of Rosalind Advisors Inc.’s investment portfolio, making the stock its 20th largest holding. Rosalind Advisors Inc. owned about 8.67% of PolyPid as of its most recent SEC filing. 26.47% of the stock is owned by institutional investors.

PolyPid Stock Performance

Shares of NASDAQ PYPD traded down $0.06 during mid-day trading on Monday, hitting $4.24. The company had a trading volume of 3,624 shares, compared to its average volume of 5,890. The firm has a market cap of $20.34 million, a P/E ratio of -0.34 and a beta of 1.31. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.64 and a quick ratio of 1.64. PolyPid has a 12 month low of $3.57 and a 12 month high of $12.30. The business’s 50-day simple moving average is $4.44 and its 200-day simple moving average is $5.12.

PolyPid (NASDAQ:PYPD) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($1.37) EPS for the quarter, topping analysts’ consensus estimates of ($1.96) by $0.59. As a group, analysts predict that PolyPid will post -4.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of PolyPid in a research note on Tuesday, June 18th.

PolyPid Company Profile

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.