PolyPid (NASDAQ:PYPD) Receives Buy Rating from HC Wainwright

PolyPid (NASDAQ:PYPD)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $13.00 price target on the stock. HC Wainwright’s price objective points to a potential upside of 205.81% from the company’s previous close.

Separately, Weiss Ratings raised PolyPid from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.67.

PolyPid Stock Performance

Shares of NASDAQ:PYPD traded down $0.90 during trading on Tuesday, hitting $4.25. 879,866 shares of the stock were exchanged, compared to its average volume of 107,320. The company has a market capitalization of $81.11 million, a price-to-earnings ratio of -2.26 and a beta of 1.40. PolyPid has a 1-year low of $3.06 and a 1-year high of $5.73. The company’s fifty day simple moving average is $4.87 and its 200-day simple moving average is $4.59.

PolyPid (NASDAQ:PYPD) last issued its earnings results on Wednesday, May 13th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.12. On average, research analysts forecast that PolyPid will post -1.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PolyPid

Several large investors have recently made changes to their positions in the company. AIGH Capital Management LLC increased its position in PolyPid by 26.1% in the fourth quarter. AIGH Capital Management LLC now owns 1,342,972 shares of the company’s stock worth $5,828,000 after purchasing an additional 277,844 shares during the period. XTX Topco Ltd boosted its stake in shares of PolyPid by 50.0% in 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 last quarter. ADAR1 Capital Management LLC bought a new position in shares of PolyPid in the 4th quarter valued at about $451,000. Renaissance Technologies LLC bought a new stake in shares of PolyPid during the first quarter worth approximately $81,000. Finally, Jane Street Group LLC acquired a new position in PolyPid in the fourth quarter valued at approximately $66,000. Institutional investors and hedge funds own 26.47% of the company’s stock.

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.