Short Interest in PolyPid Ltd. (NASDAQ:PYPD) Drops By 15.6%

PolyPid Ltd. (NASDAQ:PYPD) was the target of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 13,000 shares, a drop of 15.6% from the October 31st total of 15,400 shares. Approximately 0.4% of the company’s stock are sold short. Based on an average trading volume of 7,000 shares, the short-interest ratio is currently 1.9 days.

Institutional Investors Weigh In On PolyPid

A hedge fund recently bought a new stake in PolyPid stock. Stonepine Capital Management LLC bought a new position in shares of PolyPid Ltd. (NASDAQ:PYPD) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 138,504 shares of the company’s stock, valued at approximately $476,000. Stonepine Capital Management LLC owned about 2.89% of PolyPid as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 26.47% of the company’s stock.

PolyPid Price Performance

Shares of PYPD opened at $3.34 on Monday. The company has a market cap of $16.02 million, a price-to-earnings ratio of -0.43 and a beta of 1.31. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17. The company’s fifty day simple moving average is $3.47 and its 200 day simple moving average is $3.71. PolyPid has a 1-year low of $2.95 and a 1-year high of $9.20.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PYPD shares. HC Wainwright restated a “buy” rating and set a $14.00 target price on shares of PolyPid in a report on Wednesday, October 2nd. 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.

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.