PolyPid (NASDAQ:PYPD) Cut to "Sell" at Wall Street Zen

Key Points

• PolyPid's stock rating has been downgraded to "sell" by Wall Street Zen, shifting from a previous "hold" rating.
• Despite the downgrade, other analysts maintain a positive outlook with five buy ratings and a consensus target price of $12.40.
• PolyPid reported a quarterly loss of ($0.78) EPS, missing analysts' expectations, and anticipates a yearly EPS of -$1.79.

PolyPid (NASDAQ:PYPD - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Other research analysts have also recently issued research reports about the company. Craig Hallum reiterated a "buy" rating and issued a $13.00 target price (down previously from $15.00) on shares of PolyPid in a report on Thursday. JMP Securities reduced their target price on PolyPid from $16.00 to $14.00 and set a "market outperform" rating on the stock in a report on Tuesday, June 17th. Roth Capital reiterated a "buy" rating on shares of PolyPid in a report on Thursday, August 14th. Finally, HC Wainwright reiterated a "buy" rating and issued a $13.00 target price on shares of PolyPid in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $12.40.

PolyPid Stock Down 0.1%

Shares of NASDAQ PYPD traded down $0.0050 during midday trading on Friday, hitting $3.5050. The company had a trading volume of 41,785 shares, compared to its average volume of 215,723. PolyPid has a twelve month low of $2.30 and a twelve month high of $3.93. The business has a 50-day simple moving average of $3.50 and a two-hundred day simple moving average of $3.06. The firm has a market capitalization of $55.73 million, a price-to-earnings ratio of -0.92 and a beta of 1.40.

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

Hedge Funds Weigh In On PolyPid

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lumbard & Kellner LLC purchased a new stake in shares of PolyPid during the second quarter worth $135,000. J. Goldman & Co LP acquired a new stake in shares of PolyPid in the fourth quarter valued at about $391,000. Finally, AIGH Capital Management LLC grew its position in PolyPid by 13.6% during the first quarter. AIGH Capital Management LLC now owns 940,381 shares of the company's stock worth $2,548,000 after buying an additional 112,514 shares in the last quarter. 26.47% of the stock is owned by institutional investors.

About PolyPid

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.