PolyPid Ltd. (NASDAQ:PYPD) Short Interest Update

PolyPid Ltd. (NASDAQ:PYPD) was the target of a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 4,200 shares, a growth of 68.0% from the July 31st total of 2,500 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average trading volume of 6,300 shares, the days-to-cover ratio is presently 0.7 days.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and set a $14.00 price target on shares of PolyPid in a research report on Thursday, August 15th.

Institutional Trading of PolyPid

A hedge fund recently bought a new stake in PolyPid stock. Rosalind Advisors Inc. purchased a new position in PolyPid Ltd. (NASDAQ:PYPD) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 415,800 shares of the company’s stock, valued at approximately $1,913,000. PolyPid makes up about 1.8% of Rosalind Advisors Inc.’s holdings, making the stock its 20th largest position. Rosalind Advisors Inc. owned 8.67% of PolyPid at the end of the most recent reporting period. Hedge funds and other institutional investors own 26.47% of the company’s stock.

PolyPid Price Performance

NASDAQ:PYPD traded up $0.05 during midday trading on Friday, hitting $3.55. The company had a trading volume of 8,569 shares, compared to its average volume of 6,259. PolyPid has a 52-week low of $2.95 and a 52-week high of $9.54. The stock’s fifty day moving average price is $3.69 and its 200-day moving average price is $4.46. The company has a market capitalization of $17.03 million, a PE ratio of -0.28 and a beta of 1.31. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.95.

About PolyPid

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.