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Why Is PolyPid Ltd. (NASDAQ: PYPD) Gaining?

PolyPid Ltd. (NASDAQ:PYPD) traded at $1.08 at close of the session on Tuesday, 01/24/23, made an upward move of 10.20% on its previous day’s price.

Looking at the stock we see that its previous close was $0.98 and the beta (5Y monthly) reads 1.59 with the day’s price range being $0.9576 – $1.29. In terms of its 52-week price range, PYPD has a high of $6.90 and a low of $0.65. The company’s stock has gained about 52.11% over that past 30 days.

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PolyPid Ltd. has a market cap of $19.44 million and is expected to release its quarterly earnings report on Feb 07, 2023 – Feb 13, 2023. Estimates by analysts give the company expected earnings per share (EPS) of -$0.54, with the EPS growth for the year raised at -$2.41 for 2022 and -$2.31 for next year. These figures represent -6.60% and 4.10% growth in EPS for the two years respectively.

There have been 1 upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the PYPD stock, short term indicators assign the stock an average of Hold, while medium term indicators assign it an average of 50% Sell. Long term indicators on average place the stock in the category of 50% Sell.

Based on estimates by 4 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 1 have rated the PolyPid Ltd. (PYPD) stock as a Hold, while 2 rate it as a Buy. 1 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Overweight and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is 34.90% off its SMA20 and 39.70% from its 50-day simple moving average. The RSI (14) is pointing at 72.86 while the volatility over the past week is 13.89% and jumps to 10.64% over the past one month. The average price target for the stock over the next 12 months is $3.38, with the estimates having a low of $2.50 and a high of $4.00. These price ends are -131.48% and -270.37% off the current price level respectively, although investors could be excited at the prospect of a -224.07% if the PYPD share price touches on the median price of $3.50.

Coming back to PolyPid Ltd. (NASDAQ:PYPD), we note that the average 3-month trading volume was 87.14K, while that of the preceding 10-day period stands at 0.13 million. Current shares outstanding are 19.60 million.

The insiders hold 21.26% of the company’s shares while institutions hold 12.80%. The data shows that short shares as of Oct 13, 2022, stood at 0.51 million at a short ratio of 1.74. This represents a 2.59% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 0.4 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 54.84% up in year-to-date price movement.

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