PolyPid Ltd. (NASDAQ:PYPD) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of PolyPid Ltd. (NASDAQ:PYPD) have earned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $11.00.

PYPD has been the topic of a number of recent analyst reports. Craig Hallum set a $12.00 price objective on PolyPid in a research note on Wednesday, July 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PolyPid in a research report on Friday, September 18th. Oppenheimer assumed coverage on PolyPid in a report on Tuesday. They set an “outperform” rating and a $10.00 price target on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $13.00 price target on shares of PolyPid in a research report on Tuesday, July 21st.

PolyPid Trading Up 0.8%

PolyPid stock opened at $5.29 on Tuesday. The company has a market capitalization of $100.93 million, a P/E ratio of -3.57 and a beta of 1.38. The firm’s fifty day simple moving average is $5.13 and its 200-day simple moving average is $4.71. PolyPid has a 1-year low of $3.40 and a 1-year high of $5.73.

PolyPid (NASDAQ:PYPD) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.03. On average, equities research analysts predict that PolyPid will post -0.92 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PYPD. HighTower Advisors LLC bought a new position in PolyPid in the 2nd quarter worth $56,000. Renaissance Technologies LLC bought a new stake in PolyPid during the first quarter valued at about $81,000. AXQ Capital LP bought a new stake in PolyPid during the second quarter valued at about $87,000. B. Riley Wealth Advisors Inc. boosted its holdings in PolyPid by 32.7% during the third quarter. B. Riley Wealth Advisors Inc. now owns 20,085 shares of the company’s stock valued at $106,000 after acquiring an additional 4,955 shares during the period. Finally, Connective Capital Management LLC acquired a new stake in shares of PolyPid in the second quarter valued at about $343,000. 26.47% of the stock is currently owned by institutional investors and hedge funds.

About PolyPid

PolyPid Ltd. (NASDAQ: PYPD) is a clinical-stage biopharmaceutical company focused on developing locally administered therapies designed to provide controlled and sustained drug release at treatment sites. The company’s technology is intended to maintain therapeutic drug concentrations over extended periods while limiting systemic exposure.

PolyPid’s lead product candidate is D-PLEX100, an investigational formulation based on doxycycline and the company’s proprietary PLEX polymeric matrix.