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

PolyPid (NASDAQ:PYPD)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They currently have a $14.00 price objective on the stock. HC Wainwright’s target price suggests a potential upside of 436.40% from the company’s previous close.

Separately, Craig Hallum assumed coverage on PolyPid in a research report on Monday, November 4th. They set a “buy” rating and a $10.00 price target for the company.

PolyPid Price Performance

PYPD stock opened at $2.61 on Monday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17. The firm’s 50-day moving average price is $3.35 and its two-hundred day moving average price is $3.60. The stock has a market capitalization of $12.53 million, a price-to-earnings ratio of -0.33 and a beta of 1.33. PolyPid has a 12-month low of $2.58 and a 12-month high of $9.20.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in PolyPid stock. Rosalind Advisors Inc. lifted its position in shares of PolyPid Ltd. (NASDAQ:PYPD) by 62.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 679,168 shares of the company’s stock after purchasing an additional 262,368 shares during the quarter. PolyPid comprises 1.5% of Rosalind Advisors Inc.’s investment portfolio, making the stock its 18th biggest holding. Rosalind Advisors Inc. owned approximately 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.

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.