PolyPid (NASDAQ:PYPD) Stock Moved Up to Buy by Wall Street Zen

Key Points

• Wall Street Zen upgraded PolyPid from “hold” to “buy,” while broader analyst coverage gives the stock a “Moderate Buy” consensus with an average price target of $11.00.
• PolyPid shares opened at $5.39, with a market capitalization of approximately $102.8 million and a one-year trading range of $3.50 to $5.84.
• Institutional investors purchased new stakes in the company during the second quarter, and institutional ownership now stands at 26.47%; PolyPid’s latest quarterly loss was narrower than analysts expected.

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

Other equities research analysts also recently issued research reports about the stock. Oppenheimer started coverage on shares of PolyPid in a research note on Tuesday. They issued an "outperform" rating and a $10.00 target price on the stock. Craig Hallum set a $12.00 target price on shares of PolyPid in a report on Wednesday, July 22nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of PolyPid in a research note on Friday, September 18th. Finally, HC Wainwright reiterated a "buy" rating and set a $13.00 price target on shares of PolyPid in a report on Tuesday, July 21st. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $11.00.

PolyPid Stock Performance

Shares of PolyPid stock opened at $5.39 on Friday. The stock has a market cap of $102.84 million, a price-to-earnings ratio of -3.64 and a beta of 1.38. The stock has a 50 day moving average price of $5.19 and a 200-day moving average price of $4.73. PolyPid has a one year low of $3.50 and a one year high of $5.84.

PolyPid (NASDAQ:PYPD - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.03. Sell-side analysts predict that PolyPid will post -0.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PolyPid

Institutional investors and hedge funds have recently modified their holdings of the business. AIGH Capital Management LLC purchased a new stake in PolyPid in the second quarter worth $7,644,000. ADAR1 Capital Management LLC bought a new stake in shares of PolyPid during the second quarter worth $528,000. Symmetry Peak Management LLC bought a new stake in shares of PolyPid during the second quarter worth $512,000. J. Goldman & Co LP bought a new stake in shares of PolyPid during the second quarter worth $504,000. Finally, Connective Capital Management LLC bought a new stake in shares of PolyPid during the second quarter worth $343,000. 26.47% of the stock is owned by institutional investors.

PolyPid Company Profile

PolyPid Ltd. NASDAQ: PYPD is a clinical-stage biopharmaceutical company focused on developing locally administered therapies designed to provide controlled and sustained drug release at treatment sites. The company's technology is intended to maintain therapeutic drug concentrations over extended periods while limiting systemic exposure.

PolyPid's lead product candidate is D-PLEX100, an investigational formulation based on doxycycline and the company's proprietary PLEX polymeric matrix.

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