PolyPid (NASDAQ:PYPD) Shares Climb 0.8% - Here's Why

Key Points

• PolyPid shares rose 0.8% to $5.29 in mid-day trading, with volume down 11% from the average. The company has a market capitalization of approximately $100.9 million.
• Analyst sentiment is mixed but leans positive: three analysts rate the stock Buy and one rates it Sell, resulting in a “Moderate Buy” consensus and an average price target of $11.33.
• PolyPid reported quarterly EPS of negative $0.35, beating the consensus estimate of negative $0.38. Institutional investors own 26.47% of the stock, while the company continues developing its lead candidate, D-PLEX100.

PolyPid Ltd. (NASDAQ:PYPD - Get Free Report) was up 0.8% on Monday. The company traded as high as $5.37 and last traded at $5.29. Approximately 93,977 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 106,098 shares. The stock had previously closed at $5.25.

Analyst Ratings Changes

Several analysts have issued reports on PYPD shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of PolyPid in a research report on Friday, September 18th. Craig Hallum set a $12.00 price objective on shares of PolyPid in a research note on Wednesday, July 22nd. Finally, HC Wainwright reissued a "buy" rating and set a $13.00 target price on shares of PolyPid in a research report on Tuesday, July 21st. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, PolyPid presently has an average rating of "Moderate Buy" and an average target price of $11.33.

PolyPid Stock Performance

The company has a market capitalization of $100.93 million, a price-to-earnings ratio of -3.57 and a beta of 1.38. The company's fifty day simple moving average is $5.13 and its two-hundred day simple moving average is $4.71.

PolyPid (NASDAQ:PYPD - Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.03. Sell-side analysts anticipate that PolyPid Ltd. will post -0.92 EPS for the current year.

Institutional Trading of PolyPid

Several hedge funds and other institutional investors have recently bought and sold shares of PYPD. B. Riley Wealth Advisors Inc. grew its position in shares of PolyPid by 32.7% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 20,085 shares of the company's stock worth $106,000 after acquiring an additional 4,955 shares in the last quarter. Connective Capital Management LLC acquired a new stake in shares of PolyPid during the 2nd quarter valued at approximately $343,000. HighTower Advisors LLC acquired a new stake in shares of PolyPid during the 2nd quarter valued at approximately $56,000. AXQ Capital LP acquired a new stake in shares of PolyPid during the 2nd quarter valued at approximately $87,000. Finally, Symmetry Peak Management LLC bought a new position in PolyPid during the second quarter worth $512,000. 26.47% of the stock is owned by institutional investors.

About PolyPid

PolyPid Ltd. NASDAQ: PYPD is a clinical-stage biopharmaceutical company focused on developing locally administered therapies designed to provide controlled and sustained drug release at treatment sites. The company's technology is intended to maintain therapeutic drug concentrations over extended periods while limiting systemic exposure.

PolyPid's lead product candidate is D-PLEX100, an investigational formulation based on doxycycline and the company's proprietary PLEX polymeric matrix.

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