PolyPid (NASDAQ:PYPD) Stock Price Up 3.4% – Should You Buy?

PolyPid Ltd. (NASDAQ:PYPD) shares traded up 3.4% during trading on Monday . The company traded as high as $3.33 and last traded at $3.30. 27,404 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 44,111 shares. The stock had previously closed at $3.19.

Wall Street Analysts Forecast Growth

PYPD has been the subject of several research analyst reports. Craig Hallum started coverage on PolyPid in a research note on Monday, November 4th. They set a “buy” rating and a $10.00 price target for the company. HC Wainwright dropped their target price on PolyPid from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, December 26th.

PolyPid Price Performance

The stock has a market cap of $15.84 million, a PE ratio of -0.42 and a beta of 1.32. The business has a fifty day simple moving average of $3.15 and a two-hundred day simple moving average of $3.40. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.17.

Institutional Investors Weigh In On PolyPid

A hedge fund recently bought a new stake in PolyPid stock. Stonepine Capital Management LLC acquired a new stake in shares of PolyPid Ltd. (NASDAQ:PYPD) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 138,504 shares of the company’s stock, valued at approximately $476,000. Stonepine Capital Management LLC owned about 2.89% of PolyPid at the end of the most recent quarter. Institutional investors 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.