PAVmed (NASDAQ:PAVM) Price Target Cut to $65.00 by Analysts at Ascendiant Capital Markets

PAVmed (NASDAQ:PAVM) had its target price trimmed by Ascendiant Capital Markets from $510.00 to $65.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on PAVM. Wall Street Zen upgraded PAVmed from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Weiss Ratings restated a “sell (d)” rating on shares of PAVmed in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $65.00.

PAVmed Stock Performance

Shares of PAVM opened at $9.74 on Thursday. The business’s 50-day moving average is $10.01 and its two-hundred day moving average is $10.53. The company has a market capitalization of $9.74 million, a P/E ratio of -0.43 and a beta of 0.81. PAVmed has a fifty-two week low of $6.00 and a fifty-two week high of $28.44.

Institutional Inflows and Outflows

An institutional investor recently raised its position in PAVmed stock. Geode Capital Management LLC grew its holdings in PAVmed Inc. (NASDAQ:PAVM) by 74.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,832 shares of the company’s stock after purchasing an additional 72,258 shares during the quarter. Geode Capital Management LLC owned about 17.23% of PAVmed worth $40,000 as of its most recent SEC filing. 19.93% of the stock is owned by institutional investors.

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.