PolyPid Ltd. (NASDAQ:PYPD) Sees Large Decrease in Short Interest

PolyPid Ltd. (NASDAQ:PYPD) was the recipient of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 4,600 shares, a decrease of 14.8% from the May 31st total of 5,400 shares. Based on an average daily volume of 3,400 shares, the short-interest ratio is presently 1.4 days. Currently, 0.5% of the company’s stock are sold short.

PolyPid Stock Down 1.4 %

Shares of NASDAQ:PYPD traded down $0.06 during midday trading on Monday, hitting $4.24. 3,624 shares of the company’s stock were exchanged, compared to its average volume of 5,890. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.64 and a quick ratio of 1.64. PolyPid has a 12 month low of $3.57 and a 12 month high of $12.30. The company has a market cap of $20.34 million, a PE ratio of -0.34 and a beta of 1.31. The stock has a 50 day moving average price of $4.44 and a 200-day moving average price of $5.12.

PolyPid (NASDAQ:PYPD) last announced its earnings results on Wednesday, May 8th. The company reported ($1.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.96) by $0.59. On average, sell-side analysts anticipate that PolyPid will post -4.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and issued a $14.00 target price on shares of PolyPid in a research note on Tuesday, June 18th.

Hedge Funds Weigh In On PolyPid

An institutional investor recently bought a new position in PolyPid stock. Rosalind Advisors Inc. bought a new position in PolyPid Ltd. (NASDAQ:PYPD) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 415,800 shares of the company’s stock, valued at approximately $1,913,000. PolyPid comprises 1.8% of Rosalind Advisors Inc.’s holdings, making the stock its 20th largest holding. Rosalind Advisors Inc. owned approximately 8.67% of PolyPid at the end of the most recent reporting period. 26.47% of the stock is owned by institutional investors and hedge funds.

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.