PolyPid (NASDAQ:PYPD) Shares Up 3.4% – Should You Buy?

PolyPid Ltd. (NASDAQ:PYPD)’s stock price shot up 3.4% during mid-day trading on Monday . The company traded as high as $3.33 and last traded at $3.30. 27,404 shares were traded during trading, a decline of 38% from the average session volume of 44,111 shares. The stock had previously closed at $3.19.

Wall Street Analyst Weigh In

PYPD has been the subject of several research analyst reports. Craig Hallum began coverage on PolyPid in a report on Monday, November 4th. They issued a “buy” rating and a $10.00 price objective for the company. HC Wainwright reduced their price target on shares of PolyPid from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, December 26th.

PolyPid Price Performance

The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $15.84 million, a P/E ratio of -0.42 and a beta of 1.32. The firm has a fifty day moving average price of $3.15 and a two-hundred day moving average price of $3.40.

Hedge Funds Weigh In On PolyPid

An institutional investor recently raised its position in PolyPid stock. Rosalind Advisors Inc. raised its stake in shares of PolyPid Ltd. (NASDAQ:PYPD) by 62.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 679,168 shares of the company’s stock after purchasing an additional 262,368 shares during the period. PolyPid accounts for about 1.5% of Rosalind Advisors Inc.’s investment portfolio, making the stock its 18th biggest holding. Rosalind Advisors Inc. owned approximately 14.16% of PolyPid worth $2,336,000 as of its most recent filing with the SEC. 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.