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

PolyPid Ltd. (NASDAQ:PYPD) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 2,000 shares, a decline of 25.9% from the March 15th total of 2,700 shares. Based on an average daily volume of 17,000 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are sold short.

PolyPid Price Performance

NASDAQ:PYPD opened at $2.74 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.31 and a quick ratio of 1.00. PolyPid has a one year low of $2.30 and a one year high of $5.09. The company has a fifty day moving average price of $2.81 and a 200 day moving average price of $3.08. The stock has a market cap of $27.93 million, a P/E ratio of -0.55 and a beta of 1.28.

PolyPid (NASDAQ:PYPD) last released its earnings results on Wednesday, February 12th. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.23). Analysts anticipate that PolyPid will post -1.79 earnings per share for the current year.

Institutional Investors Weigh In On PolyPid

Several institutional investors and hedge funds have recently bought and sold shares of the business. J. Goldman & Co LP acquired a new stake in shares of PolyPid during the 4th quarter valued at about $391,000. AIGH Capital Management LLC lifted its stake in PolyPid by 21.8% during the fourth quarter. AIGH Capital Management LLC now owns 827,867 shares of the company’s stock worth $2,509,000 after purchasing an additional 148,199 shares during the period. Finally, Rosalind Advisors Inc. boosted its holdings in PolyPid by 49.9% during the fourth quarter. Rosalind Advisors Inc. now owns 1,018,021 shares of the company’s stock valued at $3,095,000 after purchasing an additional 338,853 shares in the last quarter. Institutional investors own 26.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on PYPD shares. HC Wainwright reiterated a “buy” rating and issued a $11.00 target price on shares of PolyPid in a research note on Monday, April 14th. RODMAN&RENSHAW upgraded PolyPid to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Rodman & Renshaw began coverage on PolyPid in a research note on Tuesday, January 28th. They set a “buy” rating and a $13.00 target price for the company.

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.