Zacks Investment Research Lowers PolyPid (NASDAQ:PYPD) to Hold

PolyPid (NASDAQ:PYPD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “PolyPid Ltd. is a pharmaceutical company. It discovers, develops and commercializes antibiotic drugs for the prevention of surgical infections. The company’s product candidate includes D-PLEX100, BONYPID-1000 and BONYPID-500 which are in clinical stage. PolyPid Ltd. is based in Petach Tikva, Israel. “

Separately, JMP Securities reissued a “buy” rating and set a $15.00 price objective on shares of PolyPid in a research report on Thursday, December 16th.

PYPD stock opened at $5.59 on Thursday. The company has a market capitalization of $95.29 million, a PE ratio of -2.84 and a beta of 0.43. PolyPid has a one year low of $5.40 and a one year high of $16.50. The company’s 50 day moving average price is $6.53 and its two-hundred day moving average price is $7.49.

PolyPid (NASDAQ:PYPD) last issued its earnings results on Wednesday, November 10th. The company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.66) by $0.13. During the same quarter in the previous year, the company earned ($0.35) earnings per share. As a group, equities analysts forecast that PolyPid will post -2.12 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the business. Morgan Stanley purchased a new position in PolyPid during the 2nd quarter valued at $32,000. Geode Capital Management LLC increased its position in PolyPid by 12.2% during the 3rd quarter. Geode Capital Management LLC now owns 12,545 shares of the company’s stock valued at $97,000 after purchasing an additional 1,364 shares during the period. Cresset Asset Management LLC purchased a new position in PolyPid during the 2nd quarter valued at $106,000. Meitav Dash Investments Ltd. purchased a new position in PolyPid during the 2nd quarter valued at $131,000. Finally, Renaissance Technologies LLC purchased a new position in PolyPid during the 2nd quarter valued at $174,000. 8.97% of the stock is currently owned by institutional investors and hedge funds.

PolyPid Company Profile

PolyPid Ltd., a late-stage biopharma company, develops, manufactures, and commercializes products based on polymer-lipid encapsulation matrix (PLEX) platform to address unmet medical needs. Its lead product includes D-PLEX100, which is in Phase 3 clinical trial for the prevention of sternal (bone) surgical site infections (SSIs), as well as for the prevention of abdominal (soft tissue) SSIs.

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