Craig Hallum Initiates Coverage on PolyPid (NASDAQ:PYPD)

Equities research analysts at Craig Hallum began coverage on shares of PolyPid (NASDAQ:PYPD) in a research report issued on Monday, Benzinga reports. The firm set a “buy” rating and a $10.00 price target on the stock. Craig Hallum’s price objective points to a potential upside of 194.12% from the company’s previous close.

Separately, HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of PolyPid in a report on Wednesday, October 2nd.

PolyPid Stock Performance

Shares of PYPD stock traded up $0.10 on Monday, hitting $3.40. The company had a trading volume of 5,755 shares, compared to its average volume of 6,185. The firm has a market cap of $16.32 million, a P/E ratio of -0.34 and a beta of 1.31. The company has a 50-day moving average price of $3.49 and a 200-day moving average price of $3.88. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.95. PolyPid has a twelve month low of $2.95 and a twelve month high of $9.20.

PolyPid (NASDAQ:PYPD) last issued 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, equities research analysts predict that PolyPid will post -4.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PolyPid

An institutional investor recently raised its position in PolyPid stock. Rosalind Advisors Inc. boosted its position in shares of PolyPid Ltd. (NASDAQ:PYPD) by 62.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 679,168 shares of the company’s stock after buying an additional 262,368 shares during the period. PolyPid accounts for about 1.5% of Rosalind Advisors Inc.’s portfolio, making the stock its 18th largest holding. Rosalind Advisors Inc. owned 14.16% of PolyPid worth $2,336,000 at the end of the most recent reporting period. Institutional investors 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.