PolyPid (NASDAQ:PYPD) Research Coverage Started at Oppenheimer

Oppenheimer started coverage on shares of PolyPid (NASDAQ:PYPD) in a report issued on Tuesday morning, Marketbeat.com reports. The firm issued an outperform rating and a $10.00 price objective on the stock.

A number of other brokerages have also weighed in on PYPD. Craig Hallum set a $12.00 price objective on PolyPid in a report on Wednesday, July 22nd. HC Wainwright reissued a “buy” rating and issued a $13.00 target price on shares of PolyPid in a report on Tuesday, July 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of PolyPid in a research report on Friday, September 18th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, PolyPid presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

PolyPid Stock Down 3.3%

Shares of NASDAQ:PYPD opened at $5.59 on Tuesday. The company has a market cap of $106.66 million, a P/E ratio of -3.78 and a beta of 1.38. PolyPid has a 52 week low of $3.50 and a 52 week high of $5.84. The company has a 50-day moving average price of $5.18 and a 200 day moving average price of $4.72.

PolyPid (NASDAQ:PYPD) last released its earnings results on Wednesday, August 12th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.03. Analysts expect that PolyPid will post -0.44 EPS for the current year.

Institutional Trading of PolyPid

Large investors have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. lifted its stake in PolyPid by 32.7% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 20,085 shares of the company’s stock valued at $106,000 after buying an additional 4,955 shares in the last quarter. Connective Capital Management LLC acquired a new stake in PolyPid during the 2nd quarter valued at $343,000. HighTower Advisors LLC acquired a new stake in PolyPid during the 2nd quarter valued at $56,000. AXQ Capital LP purchased a new position in PolyPid during the second quarter worth $87,000. Finally, Symmetry Peak Management LLC purchased a new position in PolyPid during the second quarter worth $512,000. 26.47% of the stock is currently owned by institutional investors and hedge funds.

About PolyPid

PolyPid Ltd. (NASDAQ: PYPD) is a clinical-stage biopharmaceutical company focused on developing locally administered therapies designed to provide controlled and sustained drug release at treatment sites. The company’s technology is intended to maintain therapeutic drug concentrations over extended periods while limiting systemic exposure.

PolyPid’s lead product candidate is D-PLEX100, an investigational formulation based on doxycycline and the company’s proprietary PLEX polymeric matrix.