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

PAVmed Inc. (NASDAQ:PAVM) saw a large decrease in short interest during the month of January. As of January 15th, there was short interest totaling 49,495 shares, a decrease of 95.6% from the December 31st total of 1,130,869 shares. Currently, 5.5% of the shares of the stock are sold short. Based on an average trading volume of 35,560 shares, the short-interest ratio is currently 1.4 days. Based on an average trading volume of 35,560 shares, the short-interest ratio is currently 1.4 days. Currently, 5.5% of the shares of the stock are sold short.

PAVmed Trading Down 6.6%

PAVM traded down $0.58 during mid-day trading on Wednesday, hitting $8.08. 67,254 shares of the stock were exchanged, compared to its average volume of 3,236,218. The firm’s fifty day moving average is $9.16 and its two-hundred day moving average is $12.25. PAVmed has a 1-year low of $6.00 and a 1-year high of $28.44. The company has a market cap of $7.91 million, a PE ratio of -0.47 and a beta of 1.10.

Wall Street Analyst Weigh In

A number of research firms have commented on PAVM. Ascendiant Capital Markets reduced their target price on PAVmed from $600.00 to $510.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Weiss Ratings restated a “sell (d)” rating on shares of PAVmed in a report on Thursday, January 22nd. Finally, Zacks Research lowered shares of PAVmed from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $510.00.

Institutional Investors Weigh In On PAVmed

A hedge fund recently raised its stake in PAVmed stock. Jane Street Group LLC boosted its holdings in shares of PAVmed Inc. (NASDAQ:PAVM) by 392.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,676 shares of the company’s stock after buying an additional 41,990 shares during the quarter. Jane Street Group LLC owned 0.31% of PAVmed worth $32,000 as of its most recent SEC filing. Institutional investors own 19.93% of the company’s stock.

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.