PolyPid Ltd. (NASDAQ:PYPD) Sees Large Growth in Short Interest

PolyPid Ltd. (NASDAQ:PYPD) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 8,900 shares, an increase of 111.9% from the August 15th total of 4,200 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 6,700 shares, the days-to-cover ratio is presently 1.3 days.

PolyPid Stock Down 3.5 %

Shares of NASDAQ PYPD traded down $0.12 during midday trading on Friday, hitting $3.47. The stock had a trading volume of 5,879 shares, compared to its average volume of 6,186. The business’s 50 day moving average is $3.57 and its 200-day moving average is $4.26. PolyPid has a 52 week low of $2.95 and a 52 week high of $9.20. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.95. The company has a market cap of $16.62 million, a P/E ratio of -0.27 and a beta of 1.32.

PolyPid (NASDAQ:PYPD) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($1.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.51) by $0.26. As a group, analysts predict that PolyPid will post -4.39 EPS for the current year.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of PolyPid in a research report on Thursday, August 15th.

Institutional Investors Weigh In On PolyPid

A hedge fund recently bought a new stake in PolyPid stock. Rosalind Advisors Inc. bought a new position in PolyPid Ltd. (NASDAQ:PYPD) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 415,800 shares of the company’s stock, valued at approximately $1,913,000. PolyPid comprises approximately 1.8% of Rosalind Advisors Inc.’s investment portfolio, making the stock its 20th biggest position. Rosalind Advisors Inc. owned 8.67% of PolyPid at the end of the most recent quarter. Hedge funds and other institutional investors own 26.47% of the company’s stock.

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.