Rodman & Renshaw Begins Coverage on PolyPid (NASDAQ:PYPD)

Rodman & Renshaw began coverage on shares of PolyPid (NASDAQ:PYPD) in a report released on Tuesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $13.00 price objective on the stock.

Other research analysts have also recently issued reports about the stock. HC Wainwright reduced their price target on shares of PolyPid from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, December 26th. Craig Hallum started coverage on PolyPid in a report on Monday, November 4th. They issued a “buy” rating and a $10.00 price target for the company.

PolyPid Stock Performance

Shares of NASDAQ:PYPD opened at $2.99 on Tuesday. The firm has a market capitalization of $14.34 million, a PE ratio of -0.38 and a beta of 1.32. PolyPid has a 12 month low of $2.37 and a 12 month high of $7.00. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50-day moving average of $3.10 and a two-hundred day moving average of $3.36.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in PolyPid stock. Stonepine Capital Management LLC acquired a new stake in PolyPid Ltd. (NASDAQ:PYPD) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 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. 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.