Short Interest in PAVmed Inc. (NASDAQ:PAVM) Drops By 53.0%

PAVmed Inc. (NASDAQ:PAVM) saw a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 23,246 shares, a drop of 53.0% from the February 26th total of 49,462 shares. Approximately 2.5% of the company’s shares are sold short. Based on an average daily trading volume, of 20,992 shares, the short-interest ratio is currently 1.1 days.

PAVmed Stock Down 3.0%

PAVM stock traded down $0.27 during midday trading on Friday, reaching $8.67. The company’s stock had a trading volume of 15,388 shares, compared to its average volume of 17,721. The business’s 50-day simple moving average is $9.80 and its 200-day simple moving average is $10.71. PAVmed has a 52 week low of $6.00 and a 52 week high of $28.44. The stock has a market cap of $8.50 million, a PE ratio of -0.51 and a beta of 0.90.

PAVmed (NASDAQ:PAVM) last issued its earnings results on Monday, March 30th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($4.50) by $4.40. The company had revenue of $0.05 million during the quarter, compared to analysts’ expectations of $0.03 million. PAVmed had a net margin of 10,672.42% and a negative return on equity of 754.98%. As a group, equities analysts forecast that PAVmed will post -3.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on PAVM. Wall Street Zen raised PAVmed to a “sell” rating in a research note on Saturday, February 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of PAVmed in a research report on Thursday, January 22nd. Finally, Ascendiant Capital Markets dropped their price objective on PAVmed from $600.00 to $510.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, PAVmed currently has an average rating of “Hold” and an average price target of $510.00.

Institutional Investors Weigh In On PAVmed

An institutional investor recently raised its position in PAVmed stock. Jane Street Group LLC raised its stake in PAVmed Inc. (NASDAQ:PAVM) by 392.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 filing with the Securities and Exchange Commission. 19.93% of the stock is owned by institutional investors and hedge funds.

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.