PolyPid Ltd. (NASDAQ:PYPD) Short Interest Update

PolyPid Ltd. (NASDAQ:PYPD) saw a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 2,700 shares, a drop of 70.7% from the February 28th total of 9,200 shares. Based on an average daily volume of 26,300 shares, the short-interest ratio is presently 0.1 days. Approximately 0.1% of the shares of the company are sold short.

Hedge Funds Weigh In On PolyPid

A number of hedge funds have recently modified their holdings of PYPD. Stonepine Capital Management LLC purchased a new stake in shares of PolyPid during the third quarter valued at $476,000. Rosalind Advisors Inc. raised its holdings in PolyPid by 50.6% during the 4th quarter. Rosalind Advisors Inc. now owns 1,022,521 shares of the company’s stock worth $3,108,000 after buying an additional 343,353 shares during the period. AIGH Capital Management LLC lifted its stake in PolyPid by 21.8% during the fourth quarter. AIGH Capital Management LLC now owns 827,867 shares of the company’s stock valued at $2,509,000 after buying an additional 148,199 shares in the last quarter. Finally, J. Goldman & Co LP acquired a new position in shares of PolyPid in the fourth quarter worth about $391,000. 26.47% of the stock is currently owned by institutional investors and hedge funds.

PolyPid Price Performance

Shares of PolyPid stock opened at $2.78 on Thursday. PolyPid has a 52 week low of $2.37 and a 52 week high of $5.50. The company has a current ratio of 1.31, a quick ratio of 1.00 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $2.99 and its two-hundred day moving average price is $3.19. The stock has a market cap of $28.33 million, a PE ratio of -0.56 and a beta of 1.27.

PolyPid (NASDAQ:PYPD) last released its earnings results on Wednesday, February 12th. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.23). As a group, sell-side analysts anticipate that PolyPid will post -1.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PYPD. RODMAN&RENSHAW raised shares of PolyPid to a “strong-buy” rating in a report on Tuesday, January 28th. HC Wainwright decreased their price objective on shares of PolyPid from $14.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, December 26th. Finally, Rodman & Renshaw started coverage on PolyPid in a report on Tuesday, January 28th. They set a “buy” rating and a $13.00 target price on the stock.

PolyPid Company Profile

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.