HC Wainwright Reaffirms Buy Rating for PolyPid (NASDAQ:PYPD)

HC Wainwright reaffirmed their buy rating on shares of PolyPid (NASDAQ:PYPD) in a report issued on Monday morning,Benzinga reports. They currently have a $14.00 price objective on the stock.

Separately, Craig Hallum initiated coverage on shares of PolyPid in a research note on Monday, November 4th. They issued a “buy” rating and a $10.00 price target for the company.

PolyPid Stock Performance

NASDAQ:PYPD opened at $2.87 on Monday. The company has a fifty day simple moving average of $3.29 and a two-hundred day simple moving average of $3.57. The company has a market cap of $13.77 million, a price-to-earnings ratio of -0.37 and a beta of 1.33. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17. PolyPid has a 52 week low of $2.37 and a 52 week high of $9.20.

Institutional Investors Weigh In On PolyPid

A hedge fund recently bought a new stake in PolyPid stock. Stonepine Capital Management LLC purchased a new stake in PolyPid Ltd. (NASDAQ:PYPD) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 138,504 shares of the company’s stock, valued at approximately $476,000. Stonepine Capital Management LLC owned about 2.89% of PolyPid at the end of the most recent reporting period. Hedge funds and other institutional investors own 26.47% of the company’s stock.

About PolyPid

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.