PolyPid (NASDAQ:PYPD) Stock Rating Upgraded by Wall Street Zen

PolyPid (NASDAQ:PYPD) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other analysts also recently commented on PYPD. Craig Hallum set a $12.00 price objective on shares of PolyPid in a research report on Wednesday, July 22nd. HC Wainwright restated a “buy” rating and set a $13.00 target price on shares of PolyPid in a research report on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PolyPid in a research note on Friday, September 18th. Finally, Oppenheimer started coverage on PolyPid in a report on Tuesday, October 27th. They set an “outperform” rating and a $10.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

PolyPid Stock Performance

Shares of PolyPid stock opened at $5.39 on Friday. PolyPid has a 52-week low of $3.50 and a 52-week high of $5.84. The business’s 50 day simple moving average is $5.19 and its 200 day simple moving average is $4.73. The firm has a market cap of $102.84 million, a PE ratio of -3.64 and a beta of 1.43.

PolyPid (NASDAQ:PYPD) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.03. As a group, equities research analysts predict that PolyPid will post -0.44 EPS for the current year.

Institutional Trading of PolyPid

Several large investors have recently added to or reduced their stakes in the stock. AIGH Capital Management LLC acquired a new position in shares of PolyPid in the 2nd quarter worth approximately $7,644,000. J. Goldman & Co LP acquired a new stake in PolyPid during the second quarter valued at approximately $504,000. Symmetry Peak Management LLC purchased a new position in shares of PolyPid during the second quarter valued at $512,000. ADAR1 Capital Management LLC acquired a new position in PolyPid in the 2nd quarter worth about $528,000. Finally, B. Riley Wealth Advisors Inc. lifted its stake in shares of 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 purchasing an additional 4,955 shares during the last quarter. 26.47% of the stock is currently owned by institutional investors and hedge funds.

PolyPid Company Profile

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.