PolyPid Ltd. (NASDAQ:PYPD) Short Interest Update

Key Points

• PolyPid Ltd. experienced a significant rise in short interest in September, increasing by 49.9% from 34,500 shares to 51,700 shares.
• An institutional investor, Lumbard & Kellner LLC, acquired a new stake in PolyPid, purchasing 38,200 shares valued at approximately $135,000.
• PolyPid's stock is currently trading at $3.44, down 2.8%, with a market cap of $54.69 million and a twelve month price range between $2.30 and $3.93.

PolyPid Ltd. (NASDAQ:PYPD - Get Free Report) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 51,700 shares, an increase of 49.9% from the August 31st total of 34,500 shares. Based on an average daily volume of 88,300 shares, the short-interest ratio is presently 0.6 days. Currently, 0.9% of the shares of the company are sold short. Currently, 0.9% of the shares of the company are sold short. Based on an average daily volume of 88,300 shares, the short-interest ratio is presently 0.6 days.

Hedge Funds Weigh In On PolyPid

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) in the second quarter, according to its most recent 13F filing with the SEC. The fund 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. Hedge funds and other institutional investors own 26.47% of the company's stock.

PolyPid Stock Down 2.8%

Shares of PolyPid stock traded down $0.10 on Tuesday, hitting $3.44. The stock had a trading volume of 25,216 shares, compared to its average volume of 187,034. The stock has a market cap of $54.69 million, a price-to-earnings ratio of -0.90 and a beta of 1.50. PolyPid has a twelve month low of $2.30 and a twelve month high of $3.93. The business's 50 day moving average is $3.42 and its two-hundred day moving average is $3.18.

PolyPid (NASDAQ:PYPD - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The company reported ($0.78) EPS for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.25). As a group, equities analysts predict that PolyPid will post -1.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on PYPD shares. Craig Hallum reaffirmed a "buy" rating and set a $13.00 target price (down previously from $15.00) 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. Weiss Ratings reissued a "sell (e+)" rating on shares of PolyPid in a research note on Saturday, September 27th. JMP Securities cut their price target on PolyPid from $16.00 to $14.00 and set a "market outperform" rating for the company in a research note on Tuesday, June 17th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $13.00 target price on shares of PolyPid in a report on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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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