PolyPid (NASDAQ:PYPD) Rating Lowered to “Sell” at Wall Street Zen

PolyPid (NASDAQ:PYPD) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other equities research analysts have also issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $13.00 price target on shares of PolyPid in a report on Wednesday. Craig Hallum reissued a “buy” rating and issued a $13.00 price target (down previously from $15.00) on shares of PolyPid in a report on Thursday. Roth Capital reaffirmed a “buy” rating on shares of PolyPid in a report on Thursday. Finally, JMP Securities lowered their target price on shares of PolyPid from $16.00 to $14.00 and set a “market outperform” rating on the stock in a report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.40.

PolyPid Price Performance

NASDAQ:PYPD opened at $3.45 on Friday. The stock has a market cap of $54.86 million, a P/E ratio of -0.90 and a beta of 1.40. PolyPid has a one year low of $2.30 and a one year high of $3.93. The company has a fifty day moving average price of $3.50 and a 200 day moving average price of $3.06.

PolyPid (NASDAQ:PYPD) last announced its quarterly earnings results on Wednesday, August 13th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.25). As a group, equities research analysts anticipate that PolyPid will post -1.79 EPS for the current year.

Institutional Investors Weigh In On PolyPid

Hedge funds have recently added to or reduced their stakes in the stock. Lumbard & Kellner LLC bought a new stake in PolyPid during the 2nd quarter worth about $135,000. J. Goldman & Co LP bought a new stake in PolyPid during the 4th quarter worth about $391,000. Finally, AIGH Capital Management LLC grew its holdings in PolyPid by 13.6% during the 1st quarter. AIGH Capital Management LLC now owns 940,381 shares of the company’s stock worth $2,548,000 after acquiring an additional 112,514 shares during the last quarter. 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.