PolyPid (NASDAQ:PYPD) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded PolyPid from “buy” to “hold.” Despite the move, MarketBeat’s consensus rating remained “Moderate Buy,” with an average price target of $11.67.
• PolyPid shares were reported down 2.2%, with the stock opening at $6.26. Its 12-month trading range was $3.50 to $7.15.
• The company reported a quarterly loss of $0.24 per share, missing analysts’ cited consensus estimate of $0.91; revenue of $30 million matched estimates.

PolyPid (NASDAQ:PYPD - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also issued reports on PYPD. Weiss Ratings restated a "sell (d-)" rating on shares of PolyPid in a research report on Friday, September 18th. Craig Hallum set a $12.00 price objective on PolyPid in a research report on Wednesday, July 22nd. HC Wainwright reiterated a "buy" rating and set a $13.00 price objective on shares of PolyPid in a research report on Thursday. Finally, Oppenheimer assumed coverage on PolyPid in a research note on Tuesday, October 27th. They set an "outperform" rating and a $10.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $11.67.

PolyPid Trading Down 2.2%

PYPD stock opened at $6.26 on Friday. The company has a market cap of $119.44 million, a price-to-earnings ratio of -4.64 and a beta of 1.43. PolyPid has a 12 month low of $3.50 and a 12 month high of $7.15. The firm has a 50-day moving average of $5.37 and a two-hundred day moving average of $4.80.

PolyPid (NASDAQ:PYPD - Get Free Report) last released its earnings results on Wednesday, November 11th. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($1.15). The business had revenue of $30.00 million for the quarter, compared to analyst estimates of $30.00 million. As a group, equities analysts forecast that PolyPid will post -0.44 earnings per share for the current year.

Institutional Investors Weigh In On PolyPid

Hedge funds and other institutional investors have recently bought and sold shares of the company. Marshall Wace LLP raised its position in shares of PolyPid by 73.7% during the 3rd quarter. Marshall Wace LLP now owns 199,745 shares of the company's stock valued at $1,053,000 after buying an additional 84,731 shares during the period. HighTower Advisors LLC lifted its holdings in PolyPid by 18.2% in the third quarter. HighTower Advisors LLC now owns 13,000 shares of the company's stock valued at $69,000 after acquiring an additional 2,000 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in PolyPid by 32.7% in 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 last quarter. Connective Capital Management LLC acquired a new position in PolyPid in the second quarter valued at approximately $343,000. Finally, AXQ Capital LP purchased a new position in PolyPid in the second quarter worth approximately $87,000. 26.47% of the stock is currently owned by institutional investors and hedge funds.

About PolyPid

PolyPid Ltd. is an Israeli clinical-stage biopharmaceutical company developing products designed to deliver medicines locally and over an extended period. Its proprietary PLEX (Polymer-Lipid Encapsulation matriX) technology is intended to control the release of drugs at the site where they are administered. The company's lead product candidate, D-PLEX100, uses the antibiotic doxycycline and is designed to be applied during surgery to provide sustained local drug delivery for the prevention of surgical-site infections.

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