PolyPid (NASDAQ:PYPD) Rating Increased to Strong-Buy at RODMAN&RENSHAW

RODMAN&RENSHAW upgraded shares of PolyPid (NASDAQ:PYPD) to a strong-buy rating in a research report report published on Tuesday morning,Zacks.com reports.

Several other research firms also recently issued reports on PYPD. Craig Hallum assumed coverage on PolyPid in a report on Monday, November 4th. They set a “buy” rating and a $10.00 price objective on the stock. Rodman & Renshaw assumed coverage on shares of PolyPid in a research note on Tuesday. They issued a “buy” rating and a $13.00 price target for the company. Finally, HC Wainwright reduced their price objective on shares of PolyPid from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, December 26th.

PolyPid Stock Performance

Shares of PYPD stock opened at $2.92 on Tuesday. The company’s fifty day moving average price is $3.12 and its two-hundred day moving average price is $3.37. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $14.02 million, a P/E ratio of -0.37 and a beta of 1.32. PolyPid has a 12 month low of $2.37 and a 12 month high of $7.00.

Hedge Funds Weigh In On PolyPid

A hedge fund recently raised its stake in PolyPid stock. Rosalind Advisors Inc. lifted its holdings in PolyPid Ltd. (NASDAQ:PYPD) by 62.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 679,168 shares of the company’s stock after buying an additional 262,368 shares during the quarter. PolyPid makes up 1.5% of Rosalind Advisors Inc.’s portfolio, making the stock its 18th biggest position. Rosalind Advisors Inc. owned approximately 14.16% of PolyPid worth $2,336,000 as of its most recent SEC filing. 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.