258,000 PolyPid Ltd. $PYPD Shares Sold by AIGH Capital Management LLC

Key Points

• AIGH Capital Management cut its PolyPid stake by 17.1%, selling 258,000 shares in the third quarter; it retained 1,246,741 shares, equal to 6.53% of the company.
• Analyst sentiment is a “Moderate Buy,” with four Buy ratings and one Sell rating and a consensus price target of $11.
• PolyPid reported a quarterly loss of $0.35 per share, beating analyst expectations of a $0.38 loss per share.

AIGH Capital Management LLC reduced its stake in shares of PolyPid Ltd. (NASDAQ:PYPD - Free Report) by 17.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,246,741 shares of the company's stock after selling 258,000 shares during the quarter. PolyPid comprises 0.7% of AIGH Capital Management LLC's portfolio, making the stock its 27th biggest position. AIGH Capital Management LLC owned 6.53% of PolyPid worth $6,570,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in PYPD. ADAR1 Capital Management LLC acquired a new stake in PolyPid during the 2nd quarter worth approximately $528,000. Symmetry Peak Management LLC bought a new stake in PolyPid during the second quarter worth about $512,000. J. Goldman & Co LP acquired a new stake in shares of PolyPid in the 2nd quarter valued at approximately $504,000. Connective Capital Management LLC bought a new position in shares of PolyPid in the 2nd quarter valued at about $343,000. Finally, B. Riley Wealth Advisors Inc. grew its holdings in PolyPid by 32.7% during the third quarter. B. Riley Wealth Advisors Inc. now owns 20,085 shares of the company's stock worth $106,000 after purchasing an additional 4,955 shares during the period. Institutional investors own 26.47% of the company's stock.

Wall Street Analyst Weigh In

PYPD has been the topic of several research analyst reports. Oppenheimer started coverage on shares of PolyPid in a research report on Tuesday, October 27th. They issued an "outperform" rating and a $10.00 price objective on the stock. HC Wainwright restated a "buy" rating and issued a $13.00 price target on shares of PolyPid in a research report on Tuesday, July 21st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of PolyPid in a report on Friday, September 18th. Craig Hallum set a $12.00 price objective on shares of PolyPid in a research note on Wednesday, July 22nd. Finally, Wall Street Zen raised PolyPid from a "hold" rating to a "buy" rating in a research note on Saturday, October 31st. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $11.00.

PolyPid Stock Down 2.6%

Shares of NASDAQ:PYPD opened at $5.67 on Friday. The firm has a market capitalization of $108.18 million, a PE ratio of -3.83 and a beta of 1.43. PolyPid Ltd. has a twelve month low of $3.50 and a twelve month high of $5.93. The company has a 50-day moving average price of $5.23 and a two-hundred day moving average price of $4.75.

PolyPid (NASDAQ:PYPD - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.03. Analysts anticipate that PolyPid Ltd. will post -0.44 earnings per share for the current fiscal year.

About PolyPid

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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