AIGH Capital Management LLC Purchases Shares of 1,504,741 PolyPid Ltd. $PYPD

Key Points

• AIGH Capital Management acquired 1,504,741 PolyPid shares worth approximately $7.6 million, giving it a 7.89% stake and making PYPD its 24th-largest portfolio holding.
• PolyPid reported a quarterly loss of $0.35 per share, beating the consensus estimate of a $0.38 loss; analysts expect a full-year loss of $1.67 per share.
• Despite the stock trading at $4.74, analysts maintain a “Moderate Buy” consensus with an average price target of $11.33, although one analyst retains a Sell rating.

AIGH Capital Management LLC purchased a new position in shares of PolyPid Ltd. (NASDAQ:PYPD - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,504,741 shares of the company's stock, valued at approximately $7,644,000. PolyPid makes up about 0.5% of AIGH Capital Management LLC's portfolio, making the stock its 24th biggest holding. AIGH Capital Management LLC owned 7.89% of PolyPid at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PYPD. Renaissance Technologies LLC bought a new position in shares of PolyPid during the first quarter valued at about $81,000. Jane Street Group LLC bought a new stake in shares of PolyPid in the 4th quarter valued at about $66,000. ADAR1 Capital Management LLC bought a new stake in shares of PolyPid in the 4th quarter valued at about $451,000. XTX Topco Ltd lifted its stake in shares of PolyPid by 50.0% in the 4th quarter. XTX Topco Ltd now owns 32,661 shares of the company's stock valued at $142,000 after acquiring an additional 10,888 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new stake in PolyPid during the 4th quarter valued at about $44,000. 26.47% of the stock is currently owned by institutional investors.

PolyPid Stock Performance

Shares of PYPD stock opened at $4.74 on Monday. The firm has a market cap of $90.44 million, a P/E ratio of -3.20 and a beta of 1.41. PolyPid Ltd. has a fifty-two week low of $3.06 and a fifty-two week high of $5.73. The business's 50 day moving average price is $4.74 and its 200-day moving average price is $4.57.

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, beating the consensus estimate of ($0.38) by $0.03. As a group, equities analysts predict that PolyPid Ltd. will post -1.67 EPS for the current year.

Analyst Ratings Changes

PYPD has been the topic of several recent research reports. Weiss Ratings upgraded PolyPid from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, June 23rd. HC Wainwright reiterated a "buy" rating and issued a $13.00 price objective on shares of PolyPid in a research report on Tuesday, July 21st. Finally, Craig Hallum set a $12.00 price objective on PolyPid in a research note on Wednesday, July 22nd. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, PolyPid currently has a consensus rating of "Moderate Buy" and an average target price of $11.33.

PolyPid Company Profile

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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