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

PolyPid Ltd. (NASDAQ:PYPD) saw a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 23,749 shares, a decrease of 21.8% from the February 12th total of 30,371 shares. Based on an average daily trading volume, of 42,301 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.2% of the shares of the stock are short sold. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 42,301 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Trading of PolyPid

Several institutional investors and hedge funds have recently made changes to their positions in PYPD. BNP Paribas Financial Markets increased its position in PolyPid by 56.1% during the 3rd 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 in the last quarter. HighTower Advisors LLC purchased a new position in PolyPid in the 4th quarter valued at about $44,000. Jane Street Group LLC acquired a new stake in shares of PolyPid during the 4th quarter worth about $66,000. Lumbard & Kellner LLC acquired a new stake in shares of PolyPid during the 2nd quarter worth about $135,000. Finally, XTX Topco Ltd grew its holdings in shares of PolyPid by 50.0% during the fourth quarter. XTX Topco Ltd now owns 32,661 shares of the company’s stock worth $142,000 after buying an additional 10,888 shares in the last quarter. 26.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PYPD shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of PolyPid in a research report on Monday, December 29th. Wall Street Zen raised PolyPid from a “sell” rating to a “hold” rating in a research note on Saturday. Citigroup reaffirmed a “market outperform” rating on shares of PolyPid in a report on Monday, December 1st. Finally, HC Wainwright reissued a “buy” rating and issued a $13.00 target price on shares of PolyPid in a report on Wednesday, February 11th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.25.

PolyPid Trading Up 0.5%

Shares of PYPD stock traded up $0.02 during trading hours on Friday, hitting $4.19. The company’s stock had a trading volume of 62,692 shares, compared to its average volume of 44,035. The business has a fifty day moving average of $4.45 and a 200-day moving average of $3.94. PolyPid has a twelve month low of $2.30 and a twelve month high of $5.12. The stock has a market cap of $79.95 million, a price-to-earnings ratio of -1.85 and a beta of 1.49.

PolyPid (NASDAQ:PYPD) last issued its quarterly earnings data on Wednesday, February 11th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.07). On average, equities analysts expect that PolyPid will post -1.79 EPS for the current fiscal year.

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.