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

PolyPid Ltd. (NASDAQ:PYPD) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 225,458 shares, a growth of 78.6% from the September 30th total of 126,220 shares. Based on an average daily trading volume, of 104,979 shares, the short-interest ratio is presently 2.1 days. Currently, 1.6% of the shares of the company are sold short.

Institutional Trading of PolyPid

Institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC acquired a new position in PolyPid during the second quarter worth about $56,000. AXQ Capital LP acquired a new stake in shares of PolyPid during the 2nd quarter valued at approximately $87,000. Renaissance Technologies LLC purchased a new stake in shares of PolyPid during the 1st quarter worth approximately $81,000. B. Riley Wealth Advisors Inc. boosted its stake in shares of PolyPid by 32.7% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 20,085 shares of the company’s stock worth $106,000 after acquiring an additional 4,955 shares in the last quarter. Finally, Connective Capital Management LLC acquired a new stake in shares of PolyPid in the 2nd quarter worth approximately $343,000. Hedge funds and other institutional investors own 26.47% of the company’s stock.

PolyPid Stock Performance

NASDAQ:PYPD traded up $0.03 during trading hours on Monday, hitting $5.42. The company’s stock had a trading volume of 205,693 shares, compared to its average volume of 123,137. PolyPid has a 52-week low of $3.50 and a 52-week high of $5.84. The business’s 50-day moving average is $5.19 and its two-hundred day moving average is $4.73. The company has a market capitalization of $103.43 million, a PE ratio of -3.66 and a beta of 1.38.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PYPD shares. Craig Hallum set a $12.00 price target on PolyPid in a research report on Wednesday, July 22nd. Oppenheimer started coverage on PolyPid in a research report on Tuesday, October 27th. They set an “outperform” rating and a $10.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PolyPid in a research report on Friday, September 18th. HC Wainwright reiterated a “buy” rating and issued a $13.00 target price on shares of PolyPid in a research note on Tuesday, July 21st. Finally, Wall Street Zen raised PolyPid from a “hold” rating to a “buy” rating in a report on Saturday. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

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.