PolyPid Ltd. (NASDAQ:PYPD) Short Interest Down 42.3% in June

PolyPid Ltd. (NASDAQ:PYPD) saw a large decline in short interest in June. As of June 30th, there was short interest totaling 84,501 shares, a decline of 42.3% from the June 15th total of 146,384 shares. Based on an average daily volume of 203,032 shares, the short-interest ratio is presently 0.4 days. Currently, 0.6% of the shares of the stock are sold short.

Institutional Trading of PolyPid

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AIGH Capital Management LLC raised its position in PolyPid by 18.7% in the 1st quarter. AIGH Capital Management LLC now owns 1,593,587 shares of the company’s stock worth $6,980,000 after purchasing an additional 250,615 shares during the last quarter. ADAR1 Capital Management LLC bought a new position in PolyPid in the 4th quarter valued at $451,000. XTX Topco Ltd boosted its position in PolyPid by 50.0% in the 4th quarter. XTX Topco Ltd now owns 32,661 shares of the company’s stock valued at $142,000 after buying an additional 10,888 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of PolyPid in the 1st quarter valued at $81,000. Finally, Jane Street Group LLC acquired a new stake in shares of PolyPid in the 4th quarter valued at $66,000. Institutional investors and hedge funds own 26.47% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of PolyPid from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 23rd. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, PolyPid has a consensus rating of “Moderate Buy” and a consensus price target of $11.67.

PolyPid Trading Up 3.5%

Shares of PolyPid stock traded up $0.18 during trading on Friday, reaching $5.37. The company’s stock had a trading volume of 241,676 shares, compared to its average volume of 231,992. The stock has a 50-day moving average price of $4.86 and a two-hundred day moving average price of $4.58. The stock has a market capitalization of $102.46 million, a P/E ratio of -2.81 and a beta of 1.40. PolyPid has a one year low of $3.06 and a one year high of $5.73.

PolyPid (NASDAQ:PYPD) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.12. As a group, sell-side analysts anticipate that PolyPid will post -1.34 EPS for the current fiscal year.

About PolyPid

PolyPid Ltd is a clinical‐stage biotechnology company focused on polymer‐based drug delivery technologies designed to enhance the performance of therapeutic agents at mucosal surfaces. Leveraging its proprietary Mucoadhesive & Mucus‐Penetrating (MMP) platform, PolyPid develops long‐acting formulations for ocular, oral and pulmonary indications. Its lead candidates include OncoTears and OralTear, therapies targeting dry eye and dry mouth conditions, respectively, as well as Paclical, a polymer‐formulated paclitaxel designed to improve tolerability and antitumor activity in oncology patients.

Founded in 2003 and headquartered in Jerusalem, Israel, PolyPid has assembled an international patent portfolio covering key markets in North America, Europe and Asia.