PolyPid's (PYPD) "Buy" Rating Reaffirmed at HC Wainwright

Key Points

• HC Wainwright reaffirmed its “Buy” rating on PolyPid and kept a $13 price target, implying roughly 206% upside from the stock’s current level.
• PolyPid shares fell 17.5% to $4.25 on unusually heavy trading volume, even as the stock remained near its recent trading range.
• The company’s latest earnings beat analyst expectations, posting a smaller-than-expected loss per share, while broader analyst sentiment remains Moderate Buy overall.

PolyPid (NASDAQ:PYPD - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at HC Wainwright in a report released on Tuesday,Benzinga reports. They currently have a $13.00 price target on the stock. HC Wainwright's price target would suggest a potential upside of 205.81% from the company's current price.

Separately, Weiss Ratings upgraded PolyPid from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, June 23rd. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, PolyPid currently has an average rating of "Moderate Buy" and a consensus target price of $11.67.

PolyPid Stock Down 17.5%

Shares of PYPD traded down $0.90 during trading hours on Tuesday, reaching $4.25. The company's stock had a trading volume of 879,866 shares, compared to its average volume of 107,320. The company has a 50 day moving average of $4.87 and a two-hundred day moving average of $4.59. PolyPid has a 1-year low of $3.06 and a 1-year high of $5.73. The firm has a market cap of $81.11 million, a price-to-earnings ratio of -2.26 and a beta of 1.40.

PolyPid (NASDAQ:PYPD - Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.12. As a group, analysts forecast that PolyPid will post -1.34 EPS for the current fiscal year.

Hedge Funds Weigh In On PolyPid

Several institutional investors and hedge funds have recently bought and sold shares of the business. AIGH Capital Management LLC increased its holdings in PolyPid by 26.1% in the fourth quarter. AIGH Capital Management LLC now owns 1,342,972 shares of the company's stock worth $5,828,000 after buying an additional 277,844 shares during the last quarter. ADAR1 Capital Management LLC acquired a new position in PolyPid during the fourth quarter worth $451,000. Renaissance Technologies LLC bought a new position in PolyPid during the first quarter valued at about $81,000. Jane Street Group LLC bought a new position in shares of PolyPid in the 4th quarter valued at approximately $66,000. Finally, XTX Topco Ltd grew its position in shares of PolyPid by 50.0% in the fourth quarter. XTX Topco Ltd now owns 32,661 shares of the company's stock valued at $142,000 after purchasing an additional 10,888 shares during the last quarter. Hedge funds and other institutional investors own 26.47% of the company's stock.

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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