Brokerages Set PolyPid Ltd. (NASDAQ:PYPD) PT at $11.67

Shares of PolyPid Ltd. (NASDAQ:PYPD) have been given a consensus recommendation of “Moderate Buy” by the five analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $11.6667.

Several brokerages have recently issued reports on PYPD. Wall Street Zen upgraded PolyPid from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Weiss Ratings raised shares of PolyPid from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 23rd.

PolyPid Stock Performance

PolyPid stock opened at $5.05 on Friday. The stock’s fifty day moving average is $4.68 and its two-hundred day moving average is $4.48. PolyPid has a fifty-two week low of $3.06 and a fifty-two week high of $5.24. The firm has a market capitalization of $96.35 million, a price-to-earnings ratio of -2.64 and a beta of 1.39.

PolyPid (NASDAQ:PYPD) last announced its earnings results on Wednesday, May 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.12. As a group, sell-side analysts forecast that PolyPid will post -1.34 EPS for the current fiscal year.

Institutional Investors Weigh In On PolyPid

A number of hedge funds and other institutional investors have recently modified their holdings of PYPD. AIGH Capital Management LLC lifted its stake in shares of PolyPid by 26.1% during the fourth quarter. AIGH Capital Management LLC now owns 1,342,972 shares of the company’s stock valued at $5,828,000 after buying an additional 277,844 shares during the period. ADAR1 Capital Management LLC purchased a new stake in PolyPid in the 4th quarter worth approximately $451,000. Renaissance Technologies LLC acquired a new position in PolyPid in the 1st quarter valued at $81,000. Jane Street Group LLC acquired a new position in PolyPid in the 4th quarter valued at $66,000. Finally, XTX Topco Ltd lifted its stake in shares of PolyPid by 50.0% during the 4th quarter. XTX Topco Ltd now owns 32,661 shares of the company’s stock worth $142,000 after purchasing an additional 10,888 shares during the period. 26.47% of the stock is currently owned by hedge funds and other institutional investors.

PolyPid Company Profile

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.