PolyPid Ltd. (NASDAQ:PYPD) Short Interest Update

Key Points

• Short interest in PolyPid Ltd. decreased by 26.6% in August, with 34,500 shares short sold as of August 31, down from 47,000 shares on August 15.
• PolyPid's stock price has seen an increase of 1.2% and currently trades at $3.43, with a market cap of approximately $54.54 million.
• Despite a recent miss on earnings estimates, PolyPid has received a consensus rating of "Buy" from analysts, with a target price averaging $12.40.

PolyPid Ltd. (NASDAQ:PYPD - Get Free Report) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 34,500 shares, a drop of 26.6% from the August 15th total of 47,000 shares. Currently, 0.6% of the company's stock are short sold. Based on an average daily trading volume, of 489,800 shares, the short-interest ratio is currently 0.1 days. Based on an average daily trading volume, of 489,800 shares, the short-interest ratio is currently 0.1 days. Currently, 0.6% of the company's stock are short sold.

PolyPid Stock Performance

NASDAQ:PYPD traded down $0.05 during mid-day trading on Friday, hitting $3.45. 42,867 shares of the company's stock traded hands, compared to its average volume of 52,618. The firm's 50 day simple moving average is $3.47 and its 200 day simple moving average is $3.14. PolyPid has a 1 year low of $2.30 and a 1 year high of $3.93. The company has a market cap of $54.86 million, a PE ratio of -0.90 and a beta of 1.48.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wall Street Zen downgraded shares of PolyPid from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. HC Wainwright reaffirmed a "buy" rating and issued a $13.00 target price on shares of PolyPid in a research report on Wednesday, August 13th. Craig Hallum reiterated a "buy" rating and set a $13.00 price target (down previously from $15.00) on shares of PolyPid in a research note on Thursday, August 14th. JMP Securities decreased their price target 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. Finally, Roth Capital reiterated a "buy" rating on shares of PolyPid in a research note on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. Based on data from MarketBeat, PolyPid currently has an average rating of "Buy" and an average target price of $12.40.

Hedge Funds Weigh In On PolyPid

A hedge fund recently bought a new stake in PolyPid stock. Lumbard & Kellner LLC bought a new stake in shares of PolyPid Ltd. (NASDAQ:PYPD - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 38,200 shares of the company's stock, valued at approximately $135,000. Lumbard & Kellner LLC owned approximately 0.24% of PolyPid at the end of the most recent quarter. Institutional investors and hedge funds own 26.47% of the company's stock.

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.