Short Interest in PolyPid Ltd. (NASDAQ:PYPD) Increases By 166.1%

Key Points

• Short interest jumped 166.1% — short interest rose to 117,650 shares as of April 15 (from 44,212 on March 31), representing about 0.8% of shares and a days-to-cover of 1.9 based on average daily volume.
• Despite a recent quarterly EPS miss (‑$0.41 vs. ‑$0.34) and negative forward EPS expectations, the stock trades near $4.62 with a market cap of ~$88.2M and an average analyst rating of "Moderate Buy" with a consensus target of $12.25.

PolyPid Ltd. (NASDAQ:PYPD - Get Free Report) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totaling 117,650 shares, an increase of 166.1% from the March 31st total of 44,212 shares. Based on an average daily volume of 61,485 shares, the days-to-cover ratio is presently 1.9 days. Currently, 0.8% of the shares of the company are sold short.

PolyPid Stock Down 0.4%

PolyPid stock opened at $4.62 on Friday. The business has a 50 day moving average price of $4.35 and a two-hundred day moving average price of $4.14. The stock has a market cap of $88.15 million, a price-to-earnings ratio of -2.04 and a beta of 1.45. PolyPid has a 12 month low of $2.44 and a 12 month high of $5.12.

PolyPid (NASDAQ:PYPD - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.07). On average, analysts expect that PolyPid will post -1.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PolyPid

Several large investors have recently added to or reduced their stakes in PYPD. AIGH Capital Management LLC raised its holdings in PolyPid by 26.1% in the 4th quarter. AIGH Capital Management LLC now owns 1,342,972 shares of the company's stock valued at $5,828,000 after acquiring an additional 277,844 shares in the last quarter. ADAR1 Capital Management LLC acquired a new position in PolyPid in the 4th quarter valued at approximately $451,000. Jane Street Group LLC acquired a new position in PolyPid in the 4th quarter valued at approximately $66,000. XTX Topco Ltd raised its holdings in PolyPid by 50.0% in the 4th quarter. XTX Topco Ltd now owns 32,661 shares of the company's stock valued at $142,000 after acquiring an additional 10,888 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new position in PolyPid in the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 26.47% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Weiss Ratings restated a "sell (d-)" rating on shares of PolyPid in a research note on Monday, December 29th. HC Wainwright restated a "buy" rating and set a $13.00 target price on shares of PolyPid in a research note on Wednesday, February 11th. Finally, Wall Street Zen upgraded PolyPid from a "sell" rating to a "hold" rating in a research note on Saturday, March 14th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $12.25.

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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