PolyPid (NASDAQ:PYPD) Downgraded by Wall Street Zen to “Sell”

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

Several other research analysts have also recently issued reports on PYPD. Weiss Ratings reiterated a “sell (d-)” rating on shares of PolyPid in a research report on Monday, December 29th. HC Wainwright reiterated a “buy” rating and issued a $13.00 price target on shares of PolyPid in a report on Wednesday, February 11th. Roth Mkm reduced their price objective on shares of PolyPid from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Finally, Citigroup restated a “market outperform” rating on shares of PolyPid in a research report on Monday, December 1st. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.25.

PolyPid Stock Up 0.7%

Shares of NASDAQ:PYPD opened at $4.25 on Friday. PolyPid has a fifty-two week low of $2.30 and a fifty-two week high of $5.12. The firm’s 50-day simple moving average is $4.44 and its 200-day simple moving average is $3.87. The company has a market cap of $81.09 million, a price-to-earnings ratio of -1.88 and a beta of 1.52.

PolyPid (NASDAQ:PYPD) last announced its quarterly earnings data on Wednesday, February 11th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.07). On average, research analysts forecast that PolyPid will post -1.79 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. XTX Topco Ltd raised its position in shares of PolyPid by 50.0% during the 4th quarter. XTX Topco Ltd now owns 32,661 shares of the company’s stock worth $142,000 after purchasing an additional 10,888 shares during the last quarter. ADAR1 Capital Management LLC acquired a new stake in PolyPid during the 4th quarter valued at $451,000. Jane Street Group LLC acquired a new stake in PolyPid during the 4th quarter valued at $66,000. HighTower Advisors LLC purchased a new position in PolyPid during the fourth quarter worth $44,000. Finally, AIGH Capital Management LLC raised its holdings in shares of PolyPid by 26.1% in the fourth quarter. AIGH Capital Management LLC now owns 1,342,972 shares of the company’s stock worth $5,828,000 after acquiring an additional 277,844 shares during the last quarter. 26.47% of the stock is owned by hedge funds and other institutional investors.

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.