PolyPid Ltd. (NASDAQ:PYPD) Short Interest Down 70.7% in March

PolyPid Ltd. (NASDAQ:PYPD) was the target of a large drop in short interest during 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. Approximately 0.1% of the company’s shares are sold short. Based on an average trading volume of 26,300 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. HC Wainwright lowered their target price on shares of PolyPid from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, December 26th. 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. Finally, RODMAN&RENSHAW upgraded shares of PolyPid to a “strong-buy” rating in a report on Tuesday, January 28th.

PolyPid Stock Up 0.4 %

Shares of PYPD stock traded up $0.01 during trading on Friday, reaching $2.73. The company’s stock had a trading volume of 30,864 shares, compared to its average volume of 18,118. The business has a fifty day moving average price of $2.98 and a 200-day moving average price of $3.19. The company has a quick ratio of 1.00, a current ratio of 1.31 and a debt-to-equity ratio of 0.08. PolyPid has a one year low of $2.37 and a one year high of $5.09. The company has a market cap of $27.82 million, a price-to-earnings ratio of -0.55 and a beta of 1.27.

PolyPid (NASDAQ:PYPD) last posted its earnings results on Wednesday, February 12th. The company reported ($1.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.23). Analysts anticipate that PolyPid will post -1.79 earnings per share for the current year.

Institutional Investors Weigh In On PolyPid

Several hedge funds have recently bought and sold shares of PYPD. J. Goldman & Co LP bought a new stake in PolyPid in the 4th quarter valued at $391,000. Stonepine Capital Management LLC bought a new stake in shares of PolyPid in the third quarter valued at about $476,000. AIGH Capital Management LLC grew its stake in shares of PolyPid by 21.8% in the fourth quarter. AIGH Capital Management LLC now owns 827,867 shares of the company’s stock valued at $2,509,000 after acquiring an additional 148,199 shares in the last quarter. Finally, Rosalind Advisors Inc. increased its position in PolyPid by 49.9% during the fourth quarter. Rosalind Advisors Inc. now owns 1,018,021 shares of the company’s stock worth $3,095,000 after acquiring an additional 338,853 shares during the period. 26.47% of the stock is currently owned by institutional investors and hedge funds.

About PolyPid

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.