PAVmed (NASDAQ:PAVM) Share Price Breaks Below 50-Day Moving Average – Here’s Why

Shares of PAVmed Inc. (NASDAQ:PAVM) crossed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $3.95 and traded as low as $2.04. PAVmed shares last traded at $2.05, with a volume of 14,828 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings cut PAVmed from a “sell (d)” rating to a “sell (e+)” rating in a report on Friday, August 14th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.00.

PAVmed Stock Performance

The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $17.35 million, a price-to-earnings ratio of -0.14 and a beta of 0.69. The stock’s 50 day moving average price is $3.89 and its two-hundred day moving average price is $5.46.

Institutional Investors Weigh In On PAVmed

A hedge fund recently bought a new position in PAVmed stock. Two Seas Capital LP purchased a new position in PAVmed Inc. (NASDAQ:PAVM) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 461,539 shares of the company’s stock, valued at approximately $2,742,000. Two Seas Capital LP owned 46.15% of PAVmed at the end of the most recent reporting period. Institutional investors own 19.93% of the company’s stock.

About PAVmed

PAVmed Inc is a medical device and diagnostics company focused on developing and commercializing technologies intended to improve the diagnosis and treatment of serious medical conditions. The company operates through subsidiaries and strategic business units that address areas including cancer detection, remote patient monitoring, vascular access and minimally invasive procedures.

One of PAVmed’s primary businesses is its majority-owned subsidiary Lucid Diagnostics, which developed the EsoGuard DNA test and EsoCheck cell-collection device.