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

PolyPid (NASDAQ:PYPD) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other equities research analysts also recently issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of PolyPid in a research report on Wednesday, October 8th. Roth Capital reiterated a “buy” rating on shares of PolyPid in a research report on Thursday, August 14th. HC Wainwright reissued a “buy” rating and set a $13.00 price objective on shares of PolyPid in a report on Wednesday, August 13th. Finally, Craig Hallum restated a “buy” rating and issued a $13.00 price objective (down from $15.00) on shares of PolyPid in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.40.

PolyPid Stock Down 3.9%

Shares of NASDAQ PYPD opened at $3.65 on Friday. The company has a market cap of $58.04 million, a P/E ratio of -0.95 and a beta of 1.53. PolyPid has a 52 week low of $2.30 and a 52 week high of $3.93. The business has a 50-day simple moving average of $3.46 and a two-hundred day simple moving average of $3.32.

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 analysts’ consensus estimates of ($0.53) by ($0.25). Equities research analysts anticipate that PolyPid will post -1.79 EPS for the current year.

Institutional Trading of PolyPid

An institutional investor recently bought a new position in PolyPid stock. Lumbard & Kellner LLC bought a new position in shares of PolyPid Ltd. (NASDAQ:PYPD) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 38,200 shares of the company’s stock, valued at approximately $135,000. Lumbard & Kellner LLC owned 0.24% of PolyPid as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other 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.