Wall Street Zen Upgrades PolyPid (NASDAQ:PYPD) to Hold

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

Several other equities research analysts have also commented on the stock. HC Wainwright reissued a “buy” rating and set a $13.00 price objective on shares of PolyPid in a research note on Wednesday, February 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PolyPid in a research note on Monday, December 29th. Finally, Citigroup reiterated a “market outperform” rating on shares of PolyPid in a report on Monday, December 1st. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.25.

PolyPid Stock Up 0.5%

Shares of PolyPid stock opened at $4.19 on Friday. The company’s fifty day simple moving average is $4.45 and its two-hundred day simple moving average is $3.93. PolyPid has a 12-month low of $2.30 and a 12-month high of $5.12. The firm has a market cap of $79.95 million, a PE ratio of -1.85 and a beta of 1.49.

PolyPid (NASDAQ:PYPD) last posted its earnings results 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). As a group, sell-side analysts expect that PolyPid will post -1.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PolyPid

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets grew its holdings in PolyPid by 56.1% during the third quarter. BNP Paribas Financial Markets now owns 9,734 shares of the company’s stock valued at $32,000 after purchasing an additional 3,500 shares during the period. HighTower Advisors LLC bought a new position in shares of PolyPid in the fourth quarter worth about $44,000. XTX Topco Ltd lifted 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 valued at $142,000 after buying an additional 10,888 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of PolyPid during the 4th quarter valued at about $66,000. Finally, Lumbard & Kellner LLC bought a new position in shares of PolyPid during the 2nd quarter valued at approximately $135,000. 26.47% of the stock is owned by 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.