Craig Hallum Initiates Coverage on PolyPid (NASDAQ:PYPD)

Equities researchers at Craig Hallum initiated coverage on shares of PolyPid (NASDAQ:PYPD) in a note issued to investors on Monday, Benzinga reports. The brokerage set a “buy” rating and a $10.00 price target on the stock. Craig Hallum’s price objective points to a potential upside of 194.12% from the stock’s current price.

Separately, HC Wainwright reissued a “buy” rating and issued a $14.00 target price on shares of PolyPid in a report on Wednesday, October 2nd.

PolyPid Price Performance

Shares of PYPD stock traded up $0.10 during trading hours on Monday, reaching $3.40. The company had a trading volume of 5,755 shares, compared to its average volume of 6,185. PolyPid has a 12-month low of $2.95 and a 12-month high of $9.20. The company has a market capitalization of $16.32 million, a price-to-earnings ratio of -0.34 and a beta of 1.31. The stock has a fifty day moving average of $3.49 and a 200-day moving average of $3.88. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.95 and a current ratio of 0.95.

PolyPid (NASDAQ:PYPD) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($1.25) EPS for the quarter, beating analysts’ consensus estimates of ($1.51) by $0.26. On average, equities analysts anticipate that PolyPid will post -4.39 earnings per share for the current year.

Hedge Funds Weigh In On PolyPid

An institutional investor recently raised its position in PolyPid stock. Rosalind Advisors Inc. grew its position in shares of PolyPid Ltd. (NASDAQ:PYPD) by 62.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 679,168 shares of the company’s stock after purchasing an additional 262,368 shares during the quarter. PolyPid makes up about 1.5% of Rosalind Advisors Inc.’s holdings, making the stock its 18th largest position. Rosalind Advisors Inc. owned 14.16% of PolyPid worth $2,336,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 26.47% of the company’s stock.

PolyPid Company Profile

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.