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

PolyPid Ltd. (NASDAQ:PYPD) was the target of a significant growth in short interest in the month of May. As of May 29th, there was short interest totaling 138,198 shares, a growth of 208.1% from the May 14th total of 44,850 shares. Currently, 1.0% of the shares of the company are sold short. Based on an average daily volume of 180,252 shares, the short-interest ratio is currently 0.8 days.

Hedge Funds Weigh In On PolyPid

Several hedge funds and other institutional investors have recently made changes to their positions in PYPD. BNP Paribas Financial Markets lifted its position in shares of PolyPid by 56.1% in the third quarter. BNP Paribas Financial Markets now owns 9,734 shares of the company’s stock valued at $32,000 after acquiring an additional 3,500 shares in the last quarter. AIGH Capital Management LLC boosted its stake in PolyPid by 26.1% during the fourth quarter. AIGH Capital Management LLC now owns 1,342,972 shares of the company’s stock worth $5,828,000 after buying an additional 277,844 shares during the last quarter. HighTower Advisors LLC acquired a new position in PolyPid during the fourth quarter worth $44,000. Jane Street Group LLC acquired a new position in PolyPid during the fourth quarter worth $66,000. Finally, ADAR1 Capital Management LLC acquired a new position in PolyPid during the fourth quarter worth $451,000. Hedge funds and other institutional investors own 26.47% of the company’s stock.

PolyPid Price Performance

NASDAQ PYPD opened at $4.57 on Friday. The company has a market cap of $87.20 million, a PE ratio of -2.39 and a beta of 1.42. The stock’s 50 day simple moving average is $4.58 and its 200-day simple moving average is $4.39. PolyPid has a 1-year low of $3.06 and a 1-year high of $5.21.

PolyPid (NASDAQ:PYPD) last released 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, equities research analysts anticipate that PolyPid will post -1.34 EPS for the current fiscal year.

Analyst Ratings Changes

PYPD has been the topic of several analyst reports. Weiss Ratings lowered PolyPid from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 1st. Wall Street Zen raised PolyPid from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, PolyPid has an average rating of “Moderate Buy” and a consensus 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.