HC Wainwright Reaffirms Buy Rating for PolyPid (NASDAQ:PYPD)

PolyPid (NASDAQ:PYPD)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. They presently have a $13.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 225.00% from the stock’s previous close.

Separately, Weiss Ratings raised shares of PolyPid from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 23rd. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.33.

PolyPid Stock Up 7.0%

Shares of PYPD stock opened at $4.00 on Tuesday. PolyPid has a fifty-two week low of $3.06 and a fifty-two week high of $5.73. The stock has a market cap of $76.32 million, a P/E ratio of -2.09 and a beta of 1.40. The business has a fifty day simple moving average of $4.85 and a 200-day simple moving average of $4.58.

PolyPid (NASDAQ:PYPD) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.12. On average, sell-side analysts anticipate that PolyPid will post -1.34 earnings per share for the current year.

Institutional Trading of PolyPid

Several hedge funds have recently modified their holdings of PYPD. BNP Paribas Financial Markets increased its holdings in PolyPid by 56.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,734 shares of the company’s stock valued at $32,000 after buying an additional 3,500 shares during the period. HighTower Advisors LLC bought a new position in PolyPid in the 4th quarter valued at approximately $44,000. Jane Street Group LLC acquired a new stake in PolyPid in the fourth quarter valued at approximately $66,000. Renaissance Technologies LLC acquired a new stake in PolyPid in the first quarter valued at approximately $81,000. Finally, XTX Topco Ltd grew its stake 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 buying an additional 10,888 shares during the last quarter. 26.47% of the stock is owned by institutional investors.

PolyPid Company Profile

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.