HC Wainwright Has Lowered Expectations for PolyPid (NASDAQ:PYPD) Stock Price

PolyPid (NASDAQ:PYPD) had its target price lowered by equities researchers at HC Wainwright from $14.00 to $11.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 270.37% from the company’s previous close.

Separately, Craig Hallum began coverage on shares of PolyPid in a report on Monday, November 4th. They issued a “buy” rating and a $10.00 price objective for the company.

PolyPid Trading Down 19.3 %

Shares of PYPD stock opened at $2.97 on Thursday. PolyPid has a 1 year low of $2.37 and a 1 year high of $9.20. The firm has a market capitalization of $14.25 million, a PE ratio of -0.38 and a beta of 1.33. The stock has a fifty day moving average of $3.27 and a two-hundred day moving average of $3.54. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 1.00.

Institutional Investors Weigh In On PolyPid

An institutional investor recently bought a new position in PolyPid stock. Stonepine Capital Management LLC purchased a new stake in PolyPid Ltd. (NASDAQ:PYPD) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 138,504 shares of the company’s stock, valued at approximately $476,000. Stonepine Capital Management LLC owned approximately 2.89% of PolyPid as of its most recent filing with the Securities and Exchange Commission (SEC). 26.47% of the stock is owned by hedge funds and other institutional investors.

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.