HC Wainwright Cuts PolyPid (NASDAQ:PYPD) Price Target to $11.00

PolyPid (NASDAQ:PYPD) had its price target reduced by HC Wainwright from $14.00 to $11.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 270.37% from the stock’s previous close.

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

PolyPid Stock Performance

PolyPid stock opened at $2.97 on Thursday. PolyPid has a fifty-two week low of $2.37 and a fifty-two week high of $9.20. The firm’s 50 day simple moving average is $3.27 and its 200-day simple moving average is $3.54. 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 company has a market cap of $14.25 million, a P/E ratio of -0.38 and a beta of 1.33.

Hedge Funds Weigh In On PolyPid

A hedge fund recently bought a new stake in PolyPid stock. Stonepine Capital Management LLC purchased a new position in shares of PolyPid Ltd. (NASDAQ:PYPD) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 138,504 shares of the company’s stock, valued at approximately $476,000. Stonepine Capital Management LLC owned 2.89% of PolyPid as of its most recent filing with the Securities and Exchange Commission (SEC). 26.47% of the stock is currently owned by institutional investors and hedge funds.

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.