AIGH Capital Management LLC Buys 250,615 Shares of PolyPid Ltd. $PYPD

Key Points

• AIGH Capital Management boosted its PolyPid stake by 18.7% in the first quarter, buying 250,615 additional shares and bringing its total to 1,593,587 shares. The fund now owns about 8.35% of PolyPid and the stock is its 24th largest holding.
• Other institutional investors have also adjusted positions in PYPD, and hedge funds plus other institutions now hold 26.47% of the company. Notable moves included new positions from Jane Street Group and ADAR1 Capital Management.
• Analyst sentiment is mixed but generally constructive, with PolyPid holding an average “Moderate Buy” rating and a consensus target price of $11.67. The stock last traded at $5.21, and the company recently reported a smaller-than-expected quarterly loss of $0.35 per share.

AIGH Capital Management LLC increased its position in PolyPid Ltd. (NASDAQ:PYPD - Free Report) by 18.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,593,587 shares of the company's stock after acquiring an additional 250,615 shares during the quarter. PolyPid comprises approximately 1.0% of AIGH Capital Management LLC's holdings, making the stock its 24th biggest position. AIGH Capital Management LLC owned about 8.35% of PolyPid worth $6,980,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PYPD. Jane Street Group LLC purchased a new position in PolyPid during the fourth quarter valued at $66,000. BNP Paribas Financial Markets grew its holdings 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 buying an additional 3,500 shares in the last quarter. HighTower Advisors LLC purchased a new stake in shares of PolyPid during the 4th quarter worth approximately $44,000. XTX Topco Ltd raised its holdings in shares of PolyPid by 50.0% during the 4th quarter. XTX Topco Ltd now owns 32,661 shares of the company's stock worth $142,000 after acquiring an additional 10,888 shares in the last quarter. Finally, ADAR1 Capital Management LLC bought a new position in shares of PolyPid during the 4th quarter valued at approximately $451,000. Hedge funds and other institutional investors own 26.47% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of PolyPid from a "sell" rating to a "hold" rating in a research report on Saturday, March 14th. Weiss Ratings upgraded shares of PolyPid from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, June 23rd. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, PolyPid has an average rating of "Moderate Buy" and an average target price of $11.67.

PolyPid Price Performance

NASDAQ:PYPD opened at $5.21 on Thursday. The firm has a market capitalization of $99.41 million, a price-to-earnings ratio of -2.73 and a beta of 1.40. PolyPid Ltd. has a 1 year low of $3.06 and a 1 year high of $5.61. The business has a 50 day simple moving average of $4.74 and a 200-day simple moving average of $4.52.

PolyPid (NASDAQ:PYPD - Get Free Report) last released its earnings results on Wednesday, May 13th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.12. As a group, analysts expect that PolyPid Ltd. will post -1.34 earnings per share for the current fiscal year.

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.

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