PAVmed Inc. (NASDAQ:PAVM) Short Interest Up 299.7% in June

PAVmed Inc. (NASDAQ:PAVM) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 33,650 shares, an increase of 299.7% from the June 15th total of 8,418 shares. Based on an average daily volume of 35,155 shares, the days-to-cover ratio is presently 1.0 days. Approximately 3.9% of the shares of the stock are short sold.

PAVmed Price Performance

PAVM stock traded down $0.01 during mid-day trading on Tuesday, reaching $5.50. The company’s stock had a trading volume of 2,688 shares, compared to its average volume of 481,836. The stock has a market cap of $5.50 million, a PE ratio of -0.15 and a beta of 0.54. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.70. PAVmed has a fifty-two week low of $3.85 and a fifty-two week high of $28.44. The company’s 50 day moving average is $5.78 and its two-hundred day moving average is $8.07.

PAVmed (NASDAQ:PAVM) last issued its earnings results on Thursday, May 14th. The company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.48). The company had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.07 million. PAVmed had a negative return on equity of 146.19% and a negative net margin of 21,914.12%. Equities research analysts expect that PAVmed will post -2.74 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on PAVM. Weiss Ratings reissued a “sell (d)” rating on shares of PAVmed in a research note on Tuesday, April 21st. Ascendiant Capital Markets decreased their price target on shares of PAVmed from $65.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, June 8th. Finally, Wall Street Zen upgraded PAVmed from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $56.00.

Hedge Funds Weigh In On PAVmed

A hedge fund recently raised its stake in PAVmed stock. Jane Street Group LLC boosted its position in shares of PAVmed Inc. (NASDAQ:PAVM) by 392.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,676 shares of the company’s stock after purchasing an additional 41,990 shares during the period. Jane Street Group LLC owned approximately 0.31% of PAVmed worth $32,000 at the end of the most recent quarter. 19.93% of the stock is owned by institutional investors.

About PAVmed

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.