PAVmed (NASDAQ:PAVM) Shares Down 7.3% – What’s Next?

PAVmed Inc. (NASDAQ:PAVM)’s stock price dropped 7.3% during mid-day trading on Monday. The company traded as low as $2.66 and last traded at $2.66. 7,386 shares were traded during trading, a decline of 77% from the average session volume of 31,706 shares. The stock had previously closed at $2.87.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PAVM. Ascendiant Capital Markets reduced their target price on PAVmed from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, June 8th. Weiss Ratings downgraded PAVmed from a “sell (d)” rating to a “sell (e+)” rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, PAVmed has an average rating of “Hold” and a consensus price target of $56.00.

PAVmed Stock Performance

The company has a 50 day moving average price of $4.58 and a 200-day moving average price of $6.15. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.98. The company has a market cap of $21.27 million, a P/E ratio of -0.17 and a beta of 0.69.

Institutional Investors Weigh In On PAVmed

A hedge fund recently bought a new stake in PAVmed stock. Two Seas Capital LP acquired a new stake in shares of PAVmed Inc. (NASDAQ:PAVM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 461,539 shares of the company’s stock, valued at approximately $2,742,000. Two Seas Capital LP owned approximately 46.15% of PAVmed as of its most recent SEC filing. Institutional investors and hedge funds own 19.93% of the company’s stock.

PAVmed Company Profile

PAVmed Inc is a medical device and healthcare company focused on developing and commercializing diagnostic and therapeutic technologies. The company has historically pursued products designed to address significant unmet needs in areas such as cancer detection, gastrointestinal health and chronic disease management.

Through its subsidiaries and affiliated businesses, PAVmed has been associated with technologies including EsoGuard, a molecular test intended to identify patients at elevated risk for esophageal precancer, and EsoCheck, a swallowable balloon device used to collect cells from the esophagus for testing.