PolyPid (NASDAQ:PYPD) Stock Price Up 2.9% - Time to Buy?

Key Points

• PolyPid's stock price increased by 2.9%, reaching $3.55, but experienced a decline in trading volume by 7% from its average.
• Analysts have set a consensus target price of $12.40 for PolyPid, with recommendations varying from "buy" to "sell." Notably, Craig Hallum suggested a price target of $13.00.
• The company reported a more significant than expected loss with a Q2 EPS of ($0.78), missing analysts' estimates by $0.25.

Shares of PolyPid Ltd. (NASDAQ:PYPD - Get Free Report) rose 2.9% on Monday . The company traded as high as $3.56 and last traded at $3.55. Approximately 48,540 shares changed hands during trading, a decline of 7% from the average daily volume of 52,002 shares. The stock had previously closed at $3.45.

Analysts Set New Price Targets

PYPD has been the subject of a number of recent analyst reports. Craig Hallum reaffirmed a "buy" rating and set a $13.00 target price (down previously from $15.00) on shares of PolyPid in a report on Thursday, August 14th. Roth Capital reissued a "buy" rating on shares of PolyPid in a report on Thursday, August 14th. Wall Street Zen downgraded shares of PolyPid from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. JMP Securities dropped their target price on shares of PolyPid from $16.00 to $14.00 and set a "market outperform" rating for the company in a research report on Tuesday, June 17th. Finally, HC Wainwright reiterated a "buy" rating and set a $13.00 target price on shares of PolyPid in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $12.40.

PolyPid Price Performance

The firm has a market cap of $56.45 million, a PE ratio of -0.93 and a beta of 1.48. The company has a 50 day simple moving average of $3.48 and a 200-day simple moving average of $3.14.

PolyPid (NASDAQ:PYPD - Get Free Report) last issued its earnings results on Wednesday, August 13th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.25). On average, sell-side analysts predict that PolyPid Ltd. will post -1.79 EPS for the current fiscal year.

Institutional Trading of PolyPid

A hedge fund recently bought a new stake in PolyPid stock. Lumbard & Kellner LLC acquired a new stake in shares of PolyPid Ltd. (NASDAQ:PYPD - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,200 shares of the company's stock, valued at approximately $135,000. Lumbard & Kellner LLC owned 0.24% of PolyPid as of its most recent filing with the Securities and Exchange Commission (SEC). 26.47% of the stock is currently 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.

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