PolyPid Ltd. (NASDAQ:PYPD) Short Interest Update

PolyPid Ltd. (NASDAQ:PYPD) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 15,400 shares, an increase of 97.4% from the October 15th total of 7,800 shares. Based on an average daily volume of 5,700 shares, the days-to-cover ratio is presently 2.7 days. Approximately 0.5% of the shares of the stock are short sold.

PolyPid Stock Performance

Shares of NASDAQ:PYPD traded down $0.10 during midday trading on Wednesday, hitting $3.40. The company had a trading volume of 5,001 shares, compared to its average volume of 6,217. The business’s 50-day simple moving average is $3.47 and its 200-day simple moving average is $3.83. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.95 and a quick ratio of 0.95. PolyPid has a twelve month low of $2.95 and a twelve month high of $9.20.

PolyPid (NASDAQ:PYPD) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($1.25) EPS for the quarter, topping the consensus estimate of ($1.51) by $0.26. Analysts anticipate that PolyPid will post -4.39 EPS for the current year.

Institutional Investors Weigh In On PolyPid

An institutional investor recently raised its position in PolyPid stock. Rosalind Advisors Inc. lifted its holdings in shares of PolyPid Ltd. (NASDAQ:PYPD) by 62.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 679,168 shares of the company’s stock after purchasing an additional 262,368 shares during the quarter. PolyPid comprises approximately 1.5% of Rosalind Advisors Inc.’s investment portfolio, making the stock its 18th biggest position. Rosalind Advisors Inc. owned 14.16% of PolyPid worth $2,336,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 26.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PYPD shares. Craig Hallum began coverage on shares of PolyPid in a research note on Monday, November 4th. They set a “buy” rating and a $10.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $14.00 price target on shares of PolyPid in a research report on Wednesday, October 2nd.

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.