PolyPid Ltd. (NASDAQ:PYPD) Receives Consensus Rating of “Moderate Buy” from Brokerages

PolyPid Ltd. (NASDAQ:PYPD) has been assigned an average rating of “Moderate Buy” from the five analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $11.6667.

PYPD has been the topic of several research analyst reports. Wall Street Zen upgraded PolyPid from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Weiss Ratings raised PolyPid from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday.

Institutional Investors Weigh In On PolyPid

Large investors have recently added to or reduced their stakes in the business. AIGH Capital Management LLC lifted its holdings in PolyPid by 26.1% during the 4th 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 in the last quarter. XTX Topco Ltd increased its position in shares of PolyPid by 50.0% during the fourth quarter. XTX Topco Ltd now owns 32,661 shares of the company’s stock worth $142,000 after acquiring an additional 10,888 shares during the period. ADAR1 Capital Management LLC purchased a new position in PolyPid in the fourth quarter valued at $451,000. Renaissance Technologies LLC acquired a new position in PolyPid during the 1st quarter worth $81,000. Finally, Jane Street Group LLC purchased a new stake in PolyPid during the 4th quarter worth about $66,000. 26.47% of the stock is owned by hedge funds and other institutional investors.

PolyPid Stock Performance

PolyPid stock opened at $4.75 on Friday. PolyPid has a fifty-two week low of $3.06 and a fifty-two week high of $5.21. The firm has a 50 day moving average price of $4.66 and a 200 day moving average price of $4.45. The company has a market capitalization of $90.63 million, a PE ratio of -2.49 and a beta of 1.42.

PolyPid (NASDAQ:PYPD) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.12. As a group, equities research analysts forecast that PolyPid will post -1.34 earnings per share for the current year.

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.