PolyPid (NASDAQ:PYPD) Receives Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of PolyPid (NASDAQ:PYPD) in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a $13.00 price target on the stock.

Separately, Weiss Ratings upgraded PolyPid from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 23rd. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.67.

PolyPid Price Performance

PYPD opened at $3.74 on Tuesday. The firm has a 50 day simple moving average of $4.86 and a 200 day simple moving average of $4.58. PolyPid has a fifty-two week low of $3.06 and a fifty-two week high of $5.73. The company has a market cap of $71.37 million, a price-to-earnings ratio of -1.96 and a beta of 1.40.

PolyPid (NASDAQ:PYPD) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.12. As a group, analysts expect that PolyPid will post -1.34 EPS for the current year.

Institutional Investors Weigh In On PolyPid

Several large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its holdings in PolyPid by 56.1% in the third quarter. BNP Paribas Financial Markets now owns 9,734 shares of the company’s stock worth $32,000 after purchasing an additional 3,500 shares during the period. HighTower Advisors LLC acquired a new position in shares of PolyPid in the 4th quarter valued at $44,000. Jane Street Group LLC bought a new stake in shares of PolyPid in the 4th quarter valued at $66,000. Renaissance Technologies LLC bought a new stake in shares of PolyPid in the 1st quarter valued at $81,000. Finally, XTX Topco Ltd raised its stake in 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 buying an additional 10,888 shares during the period. Institutional investors own 26.47% of the company’s stock.

PolyPid Company Profile

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.