PAVmed (NASDAQ:PAVM) Posts Quarterly Earnings Results, Beats Estimates By $4.40 EPS

PAVmed (NASDAQ:PAVM) released its quarterly earnings results on Friday. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.50) by $4.40, FiscalAI reports. The business had revenue of $0.05 million during the quarter, compared to the consensus estimate of $0.03 million. PAVmed had a net margin of 10,672.42% and a negative return on equity of 754.98%.

PAVmed Stock Down 3.0%

PAVM stock traded down $0.27 during mid-day trading on Friday, reaching $8.67. The company had a trading volume of 15,388 shares, compared to its average volume of 1,057,198. PAVmed has a one year low of $6.00 and a one year high of $28.44. The stock has a market capitalization of $8.53 million, a P/E ratio of -0.51 and a beta of 0.90. The stock’s 50-day simple moving average is $9.76 and its two-hundred day simple moving average is $10.72.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in PAVmed stock. Jane Street Group LLC grew its position in PAVmed Inc. (NASDAQ:PAVM) by 392.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing. 19.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Ascendiant Capital Markets dropped their target price on shares of PAVmed from $600.00 to $510.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. Weiss Ratings restated a “sell (d)” rating on shares of PAVmed in a research note on Thursday, January 22nd. Finally, Wall Street Zen upgraded PAVmed to a “sell” rating in a research report on Saturday, February 14th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $510.00.

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.