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

PAVmed Inc. (NASDAQ:PAVM) was the recipient of a significant drop in short interest in May. As of May 29th, there was short interest totaling 8,301 shares, a drop of 36.3% from the May 14th total of 13,031 shares. Based on an average daily trading volume, of 7,904 shares, the short-interest ratio is currently 1.1 days. Currently, 1.0% of the shares of the stock are short sold.

Hedge Funds Weigh In On PAVmed

An institutional investor recently raised its position in PAVmed stock. Geode Capital Management LLC raised its position in shares of PAVmed Inc. (NASDAQ:PAVM) by 74.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 168,832 shares of the company’s stock after purchasing an additional 72,258 shares during the quarter. Geode Capital Management LLC owned approximately 17.23% of PAVmed worth $40,000 at the end of the most recent quarter. 19.93% of the stock is currently owned by hedge funds and other institutional investors.

PAVmed Trading Up 2.5%

Shares of PAVM stock traded up $0.12 during trading hours on Tuesday, hitting $4.95. 5,941 shares of the company’s stock traded hands, compared to its average volume of 553,932. The stock’s 50 day simple moving average is $7.36 and its 200 day simple moving average is $8.73. The stock has a market cap of $4.95 million, a PE ratio of -0.13 and a beta of 0.58. PAVmed has a 12 month low of $4.50 and a 12 month high of $28.44. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.70.

PAVmed (NASDAQ:PAVM) last issued its quarterly earnings data on Friday, May 15th. The company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.48). The business had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.07 million. PAVmed had a negative return on equity of 146.19% and a negative net margin of 21,914.12%. On average, sell-side analysts anticipate that PAVmed will post -2.74 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of PAVmed from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Ascendiant Capital Markets reduced their price objective on PAVmed from $65.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, June 8th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of PAVmed in a report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $56.00.

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.