PolyPid Ltd. (NASDAQ:PYPD) Sees Significant Growth in Short Interest

PolyPid Ltd. (NASDAQ:PYPD) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 44,212 shares, a growth of 94.8% from the March 15th total of 22,697 shares. Based on an average daily volume of 61,674 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.3% of the shares of the stock are sold short.

PolyPid Stock Performance

PYPD stock traded up $0.02 during trading on Tuesday, hitting $4.42. 128,677 shares of the company’s stock traded hands, compared to its average volume of 54,838. PolyPid has a 52 week low of $2.44 and a 52 week high of $5.12. The business has a fifty day simple moving average of $4.33 and a 200 day simple moving average of $4.07. The stock has a market capitalization of $84.33 million, a price-to-earnings ratio of -1.96 and a beta of 1.45.

PolyPid (NASDAQ:PYPD) last released its earnings results on Wednesday, February 11th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.07). Research analysts forecast that PolyPid will post -1.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its position in PolyPid by 56.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,734 shares of the company’s stock valued at $32,000 after purchasing an additional 3,500 shares during the period. HighTower Advisors LLC purchased a new position in PolyPid during the 4th quarter valued at about $44,000. XTX Topco Ltd increased its position in PolyPid by 50.0% during the 4th quarter. XTX Topco Ltd now owns 32,661 shares of the company’s stock valued at $142,000 after purchasing an additional 10,888 shares during the period. Jane Street Group LLC purchased a new position in PolyPid during the 4th quarter valued at about $66,000. Finally, ADAR1 Capital Management LLC purchased a new position in PolyPid during the 4th quarter valued at about $451,000. Hedge funds and other institutional investors own 26.47% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. HC Wainwright reiterated a “buy” rating and set a $13.00 price objective on shares of PolyPid in a research report on Wednesday, February 11th. Wall Street Zen upgraded shares of PolyPid from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of PolyPid in a research report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $12.25.

About PolyPid

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.