Stonepine Capital Management LLC Acquires New Shares in PolyPid Ltd. (NASDAQ:PYPD)

Stonepine Capital Management LLC acquired a new stake in PolyPid Ltd. (NASDAQ:PYPD) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 138,504 shares of the company’s stock, valued at approximately $476,000.

Separately, Rosalind Advisors Inc. lifted its position in PolyPid by 62.9% in the 3rd quarter. Rosalind Advisors Inc. now owns 679,168 shares of the company’s stock valued at $2,336,000 after acquiring an additional 262,368 shares in the last quarter. Hedge funds and other institutional investors own 26.47% of the company’s stock.

PolyPid Trading Up 0.3 %

Shares of NASDAQ PYPD traded up $0.01 during midday trading on Wednesday, hitting $3.52. 3,883 shares of the stock traded hands, compared to its average volume of 6,593. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00. PolyPid Ltd. has a one year low of $2.95 and a one year high of $9.20. The firm has a 50-day moving average of $3.48 and a two-hundred day moving average of $3.74.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PYPD shares. Craig Hallum started coverage on PolyPid in a report on Monday, November 4th. They set a “buy” rating and a $10.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of PolyPid in a report on Wednesday, October 2nd.

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.