PolyPid Ltd. (NASDAQ:PYPD) Short Interest Down 44.0% in August

PolyPid Ltd. (NASDAQ:PYPD) saw a significant drop in short interest in August. As of August 14th, there was short interest totaling 231,379 shares, a drop of 44.0% from the July 30th total of 412,853 shares. Based on an average daily trading volume, of 170,743 shares, the short-interest ratio is currently 1.4 days. Approximately 1.6% of the company’s stock are sold short.

PolyPid Stock Performance

PYPD traded up $0.21 on Tuesday, hitting $5.35. 229,760 shares of the company were exchanged, compared to its average volume of 127,722. PolyPid has a fifty-two week low of $3.06 and a fifty-two week high of $5.73. The firm has a market capitalization of $102.08 million, a P/E ratio of -3.61 and a beta of 1.41. The business’s fifty day moving average is $4.82 and its 200 day moving average is $4.60.

PolyPid (NASDAQ:PYPD) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.03. Analysts forecast that PolyPid will post -0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PYPD shares. HC Wainwright reissued a “buy” rating and set a $13.00 price objective on shares of PolyPid in a research report on Tuesday, July 21st. Weiss Ratings raised PolyPid from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. Finally, Craig Hallum set a $12.00 target price on PolyPid in a research note on Wednesday, July 22nd. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.33.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. AIGH Capital Management LLC boosted its position in shares of PolyPid by 18.7% in the 1st quarter. AIGH Capital Management LLC now owns 1,593,587 shares of the company’s stock worth $6,980,000 after buying an additional 250,615 shares in the last quarter. ADAR1 Capital Management LLC purchased a new stake in shares of PolyPid in the second quarter valued at about $528,000. Symmetry Peak Management LLC purchased a new stake in shares of PolyPid in the second quarter valued at about $512,000. J. Goldman & Co LP acquired a new stake in shares of PolyPid in the second quarter valued at approximately $504,000. Finally, XTX Topco Ltd increased 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 in the last quarter. Hedge funds and other institutional investors own 26.47% of the company’s stock.

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.