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Short Interest in PolyPid Ltd. (NASDAQ:PYPD) Drops By 61.0%

PolyPid logo with Medical background

Key Points

  • Short interest in PolyPid Ltd. declined by 61.0% in July, dropping to 25,500 shares from 65,400 shares, with only 0.4% of the company's stock currently short sold.
  • Analysts have mixed ratings for PolyPid, with one downgrade to sell and several maintaining a buy rating, alongside consensus target prices ranging from $12.40 to $14.00.
  • PolyPid's recent earnings report showed a quarterly loss of ($0.78) per share, which missed analysts' expectations of ($0.53).
  • Want stock alerts on PolyPid? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

PolyPid Ltd. (NASDAQ:PYPD - Get Free Report) was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totaling 25,500 shares, adropof61.0% from the July 15th total of 65,400 shares. Approximately0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 493,600 shares, the short-interest ratio is presently 0.1 days. Based on an average daily trading volume, of 493,600 shares, the short-interest ratio is presently 0.1 days. Approximately0.4% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Lumbard & Kellner LLC bought a new position in shares of PolyPid during the 2nd quarter valued at $135,000. AIGH Capital Management LLC raised its holdings in shares of PolyPid by 27.0% during the 2nd quarter. AIGH Capital Management LLC now owns 1,194,108 shares of the company's stock valued at $4,215,000 after purchasing an additional 253,727 shares in the last quarter. Finally, J. Goldman & Co LP bought a new position in shares of PolyPid during the 4th quarter valued at $391,000. Institutional investors own 26.47% of the company's stock.

PolyPid Trading Up 0.6%

PYPD stock traded up $0.02 during midday trading on Tuesday, reaching $3.53. The company had a trading volume of 59,247 shares, compared to its average volume of 215,859. The company has a market capitalization of $56.13 million, a P/E ratio of -0.92 and a beta of 1.40. The company has a 50 day moving average of $3.50 and a two-hundred day moving average of $3.06. PolyPid has a 1 year low of $2.30 and a 1 year high of $3.93.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Craig Hallum restated a "buy" rating and set a $13.00 target price (down from $15.00) on shares of PolyPid in a report on Thursday, August 14th. Roth Capital restated a "buy" rating on shares of PolyPid in a report on Thursday, August 14th. Wall Street Zen cut shares of PolyPid from a "hold" rating to a "sell" rating in a report on Saturday. HC Wainwright reaffirmed a "buy" rating and issued a $13.00 price objective on shares of PolyPid in a research note on Wednesday, August 13th. Finally, JMP Securities decreased their price objective on shares of PolyPid from $16.00 to $14.00 and set a "market outperform" rating for the company in a research note on Tuesday, June 17th. One investment 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 currently has an average rating of "Buy" and a consensus target price of $12.40.

View Our Latest Research Report on PolyPid

About PolyPid

(Get Free Report)

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.

Further Reading

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