PAVmed Inc. (NASDAQ:PAVM) Sees Significant Decline in Short Interest

PAVmed Inc. (NASDAQ:PAVM) was the recipient of a significant decrease in short interest during the month of February. As of February 13th, there was short interest totaling 99,245 shares, a decrease of 23.4% from the January 29th total of 129,582 shares. Currently, 11.1% of the company’s shares are short sold. Based on an average daily volume of 299,941 shares, the short-interest ratio is currently 0.3 days. Based on an average daily volume of 299,941 shares, the short-interest ratio is currently 0.3 days. Currently, 11.1% of the company’s shares are short sold.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PAVM shares. Zacks Research cut shares of PAVmed from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Weiss Ratings restated a “sell (d)” rating on shares of PAVmed in a research note on Thursday, January 22nd. Wall Street Zen raised shares of PAVmed to a “sell” rating in a research note on Saturday, February 14th. Finally, Ascendiant Capital Markets reduced their price target on shares of PAVmed from $600.00 to $510.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $510.00.

PAVmed Trading Down 2.4%

PAVmed stock traded down $0.25 during mid-day trading on Monday, reaching $9.84. The company’s stock had a trading volume of 5,886 shares, compared to its average volume of 1,550,647. PAVmed has a twelve month low of $6.00 and a twelve month high of $28.44. The firm has a market cap of $9.68 million, a price-to-earnings ratio of -0.57 and a beta of 1.12. The business has a 50 day moving average price of $8.98 and a 200-day moving average price of $11.19.

Hedge Funds Weigh In On PAVmed

A hedge fund recently raised its stake in PAVmed stock. Geode Capital Management LLC boosted its position in shares of PAVmed Inc. (NASDAQ:PAVM) by 74.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,832 shares of the company’s stock after acquiring an additional 72,258 shares during the period. Geode Capital Management LLC owned 17.23% of PAVmed worth $40,000 at the end of the most recent quarter. Institutional investors and hedge funds own 19.93% of the company’s stock.

PAVmed Company Profile

PAVmed Inc is a clinical-stage medical technology company focused on acquiring, developing and commercializing innovative medical devices aimed primarily at gastrointestinal endoscopy and related therapeutic areas. Its portfolio includes FDA-cleared products such as EsoFLIP® Distensibility System for the treatment of esophageal strictures and MUSE™ (Medigus Ultrasonic Surgical Endostapler) for endoscopic fundoplication in gastroesophageal reflux disease (GERD). In addition to its gastrointestinal franchise, PAVmed is advancing early-stage programs targeting indications in oncology, urology and dermatology.

Founded in 2012, PAVmed has built its pipeline through internal research and development as well as strategic collaborations and acquisitions.