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

PolyPid Ltd. (NASDAQ:PYPD) saw a significant drop in short interest during the month of January. As of January 15th, there was short interest totalling 21,900 shares, a drop of 13.4% from the December 31st total of 25,300 shares. Based on an average daily trading volume, of 28,600 shares, the short-interest ratio is currently 0.8 days. Currently, 0.7% of the shares of the company are short sold.

PolyPid Stock Performance

Shares of PYPD traded down $0.13 during mid-day trading on Friday, hitting $2.86. 35,395 shares of the company’s stock were exchanged, compared to its average volume of 24,325. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17. PolyPid has a 52 week low of $2.37 and a 52 week high of $7.00. The stock’s 50-day simple moving average is $3.08 and its 200-day simple moving average is $3.35. The firm has a market cap of $13.73 million, a price-to-earnings ratio of -0.37 and a beta of 1.32.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. HC Wainwright dropped their price objective on shares of PolyPid from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, December 26th. RODMAN&RENSHAW upgraded shares of PolyPid to a “strong-buy” rating in a research report on Tuesday. Rodman & Renshaw started coverage on PolyPid in a research report on Tuesday. They issued a “buy” rating and a $13.00 target price on the stock. Finally, Craig Hallum began coverage on PolyPid in a report on Monday, November 4th. They set a “buy” rating and a $10.00 price target for the company.

Hedge Funds Weigh In On PolyPid

A hedge fund recently bought a new stake in PolyPid stock. Stonepine Capital Management LLC bought a new position in shares of PolyPid Ltd. (NASDAQ:PYPD) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 138,504 shares of the company’s stock, valued at approximately $476,000. Stonepine Capital Management LLC owned approximately 2.89% of PolyPid as of its most recent filing with the SEC. 26.47% of the stock is owned by institutional investors.

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.