Rodman & Renshaw Initiates Coverage on PolyPid (NASDAQ:PYPD)

Investment analysts at Rodman & Renshaw began coverage on shares of PolyPid (NASDAQ:PYPD) in a note issued to investors on Tuesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $13.00 price target on the stock. Rodman & Renshaw’s target price would indicate a potential upside of 312.70% from the stock’s previous close.

Several other research firms have also recently weighed in on PYPD. HC Wainwright decreased their price target on shares of PolyPid from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, December 26th. Craig Hallum started coverage on PolyPid in a report on Monday, November 4th. They issued a “buy” rating and a $10.00 price target on the stock.

PolyPid Trading Down 2.8 %

Shares of PYPD opened at $3.15 on Tuesday. The business’s 50-day moving average price is $3.13 and its 200-day moving average price is $3.37. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.17. PolyPid has a twelve month low of $2.37 and a twelve month high of $7.00. The stock has a market cap of $15.12 million, a PE ratio of -0.40 and a beta of 1.32.

Hedge Funds Weigh In On PolyPid

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