PolyPid Ltd. (NASDAQ:PYPD) Short Interest Update

PolyPid Ltd. (NASDAQ:PYPD) was the recipient of a significant decline in short interest in January. As of January 15th, there was short interest totalling 21,900 shares, a decline of 13.4% from the December 31st total of 25,300 shares. Based on an average daily trading volume, of 28,600 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.7% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Rodman & Renshaw assumed coverage on shares of PolyPid in a report on Tuesday, January 28th. They issued a “buy” rating and a $13.00 target price on the stock. Craig Hallum started coverage on shares of PolyPid in a report on Monday, November 4th. They issued a “buy” rating and a $10.00 target price on the stock. HC Wainwright decreased their price target on shares of PolyPid from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, December 26th. Finally, RODMAN&RENSHAW raised shares of PolyPid to a “strong-buy” rating in a research note on Tuesday, January 28th.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in PolyPid stock. Stonepine Capital Management LLC purchased a new stake in PolyPid Ltd. (NASDAQ:PYPD) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 138,504 shares of the company’s stock, valued at approximately $476,000. Stonepine Capital Management LLC owned approximately 2.89% of PolyPid as of its most recent filing with the SEC. 26.47% of the stock is currently owned by institutional investors and hedge funds.

PolyPid Price Performance

PolyPid stock opened at $2.86 on Monday. The company has a market cap of $29.14 million, a price-to-earnings ratio of -0.37 and a beta of 1.32. The firm’s fifty day moving average is $3.08 and its 200 day moving average is $3.35. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17. PolyPid has a 52-week low of $2.37 and a 52-week high of $7.00.

PolyPid Company Profile

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.