PolyPid (NASDAQ:PYPD) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of PolyPid (NASDAQ:PYPD) in a research note released on Thursday morning, Benzinga reports. They currently have a $14.00 target price on the stock.

PolyPid Stock Performance

Shares of NASDAQ PYPD opened at $3.75 on Thursday. The stock’s 50-day moving average is $3.82 and its 200 day moving average is $4.65. The stock has a market cap of $17.99 million, a price-to-earnings ratio of -0.30 and a beta of 1.31. PolyPid has a 1-year low of $2.95 and a 1-year high of $11.10. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.60.

Institutional Investors Weigh In On PolyPid

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

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.