PolyPid Ltd. (NASDAQ:PYPD) Sees Large Decrease in Short Interest

Key Points

• PolyPid Ltd. (NASDAQ:PYPD) saw a significant 30.8% decrease in short interest in September, dropping to 35,800 shares from 51,700 shares.
• A recent purchase by institutional investor Lumbard & Kellner LLC added 38,200 shares to PolyPid, increasing their ownership stake to approximately 0.24%.
• PolyPid stock experienced a 4.4% increase during trading, reaching $3.32, although the company's recent earnings report reflected a loss with an EPS of ($0.78).

PolyPid Ltd. (NASDAQ:PYPD - Get Free Report) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 35,800 shares, a decline of 30.8% from the September 15th total of 51,700 shares. Based on an average daily trading volume, of 75,300 shares, the short-interest ratio is presently 0.5 days. Approximately 0.6% of the company's shares are sold short. Approximately 0.6% of the company's shares are sold short. Based on an average daily trading volume, of 75,300 shares, the short-interest ratio is presently 0.5 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in PolyPid stock. Lumbard & Kellner LLC purchased a new stake in shares of PolyPid Ltd. (NASDAQ:PYPD - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 38,200 shares of the company's stock, valued at approximately $135,000. Lumbard & Kellner LLC owned approximately 0.24% of PolyPid at the end of the most recent reporting period. 26.47% of the stock is currently owned by institutional investors and hedge funds.

PolyPid Trading Up 4.4%

PolyPid stock traded up $0.14 during mid-day trading on Thursday, hitting $3.32. The company had a trading volume of 23,664 shares, compared to its average volume of 180,491. The stock's 50 day moving average price is $3.40 and its two-hundred day moving average price is $3.22. PolyPid has a 12 month low of $2.30 and a 12 month high of $3.93. The company has a market capitalization of $52.77 million, a PE ratio of -0.87 and a beta of 1.50.

PolyPid (NASDAQ:PYPD - Get Free Report) last released its earnings results on Wednesday, August 13th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.25). Equities research analysts anticipate that PolyPid will post -1.79 EPS for the current year.

Analyst Ratings Changes

PYPD has been the topic of several recent research reports. Craig Hallum reaffirmed a "buy" rating and issued a $13.00 price target (down from $15.00) on shares of PolyPid in a research note on Thursday, August 14th. Roth Capital reaffirmed a "buy" rating on shares of PolyPid in a research note on Thursday, August 14th. Wall Street Zen raised PolyPid from a "sell" rating to a "hold" rating in a research note on Friday, September 26th. HC Wainwright reaffirmed a "buy" rating and issued a $13.00 price target on shares of PolyPid in a research note on Wednesday, August 13th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of PolyPid in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $12.40.

PolyPid Company Profile

PolyPid Ltd., a clinical-stage biopharmaceutical company, developing targeted, locally administered, and prolonged-release therapeutics using its proprietary polymer-lipid encapsulation matrix (PLEX) technology to address unmet medical needs. Its lead product candidate is D-PLEX100, which is in a pivotal Phase 3 confirmatory trial for prevention of surgical site infections (SSIs) in patients undergoing abdominal colorectal surgery with large incisions.

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