Short Interest in PolyPid Ltd. (NASDAQ:PYPD) Increases By 208.1%

PolyPid Ltd. (NASDAQ:PYPD) was the target of a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 138,198 shares, an increase of 208.1% from the May 14th total of 44,850 shares. Based on an average trading volume of 180,252 shares, the short-interest ratio is presently 0.8 days. Currently, 1.0% of the shares of the company are sold short.

Institutional Investors Weigh In On PolyPid

Several institutional investors and hedge funds have recently added to or reduced their stakes in PYPD. AIGH Capital Management LLC increased its holdings in PolyPid by 26.1% in the 4th quarter. AIGH Capital Management LLC now owns 1,342,972 shares of the company’s stock worth $5,828,000 after acquiring an additional 277,844 shares in the last quarter. ADAR1 Capital Management LLC purchased a new stake in PolyPid in the 4th quarter worth $451,000. Renaissance Technologies LLC purchased a new stake in PolyPid in the 1st quarter worth $81,000. Jane Street Group LLC purchased a new stake in PolyPid in the 4th quarter worth $66,000. Finally, XTX Topco Ltd increased its holdings in PolyPid by 50.0% in the 4th quarter. XTX Topco Ltd now owns 32,661 shares of the company’s stock worth $142,000 after acquiring an additional 10,888 shares in the last quarter. Hedge funds and other institutional investors own 26.47% of the company’s stock.

PolyPid Price Performance

NASDAQ:PYPD opened at $4.62 on Friday. The firm has a market cap of $88.15 million, a price-to-earnings ratio of -2.42 and a beta of 1.42. The company has a 50 day moving average price of $4.58 and a 200-day moving average price of $4.39. PolyPid has a 1-year low of $3.06 and a 1-year high of $5.21.

PolyPid (NASDAQ:PYPD) last posted its earnings results on Wednesday, May 13th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.12. On average, sell-side analysts anticipate that PolyPid will post -1.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PYPD shares. Weiss Ratings lowered shares of PolyPid from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 1st. Wall Street Zen raised shares of PolyPid from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Five investment analysts have rated the stock with a Buy rating and one has given 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 $12.25.

About PolyPid

PolyPid Ltd is a clinical‐stage biotechnology company focused on polymer‐based drug delivery technologies designed to enhance the performance of therapeutic agents at mucosal surfaces. Leveraging its proprietary Mucoadhesive & Mucus‐Penetrating (MMP) platform, PolyPid develops long‐acting formulations for ocular, oral and pulmonary indications. Its lead candidates include OncoTears and OralTear, therapies targeting dry eye and dry mouth conditions, respectively, as well as Paclical, a polymer‐formulated paclitaxel designed to improve tolerability and antitumor activity in oncology patients.

Founded in 2003 and headquartered in Jerusalem, Israel, PolyPid has assembled an international patent portfolio covering key markets in North America, Europe and Asia.