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

PolyPid Ltd. (NASDAQ:PYPD) has been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $11.6667.

PYPD has been the topic of several research reports. HC Wainwright restated a “buy” rating and set a $13.00 price objective on shares of PolyPid in a report on Tuesday. Weiss Ratings upgraded shares of PolyPid from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd.

PolyPid Stock Down 27.4%

Shares of NASDAQ:PYPD opened at $3.74 on Wednesday. PolyPid has a twelve month low of $3.06 and a twelve month high of $5.73. The stock’s 50 day moving average is $4.86 and its 200-day moving average is $4.58. The firm has a market capitalization of $71.37 million, a price-to-earnings ratio of -1.96 and a beta of 1.40.

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

Hedge Funds Weigh In On PolyPid

Large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its stake in PolyPid by 56.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,734 shares of the company’s stock valued at $32,000 after purchasing an additional 3,500 shares during the last quarter. HighTower Advisors LLC bought a new stake in PolyPid during the 4th quarter worth approximately $44,000. Jane Street Group LLC purchased a new stake in shares of PolyPid in the fourth quarter worth approximately $66,000. Renaissance Technologies LLC purchased a new stake in shares of PolyPid in the first quarter worth approximately $81,000. Finally, XTX Topco Ltd raised its stake in shares of PolyPid by 50.0% in the fourth quarter. XTX Topco Ltd now owns 32,661 shares of the company’s stock worth $142,000 after purchasing an additional 10,888 shares during the last quarter. Institutional investors 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.