PAVmed Inc. (NASDAQ:PAVM) Sees Large Decrease in Short Interest

PAVmed Inc. (NASDAQ:PAVM) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 7,939 shares, a decline of 65.0% from the August 15th total of 22,659 shares. Based on an average daily trading volume, of 13,726 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.1% of the company’s shares are short sold.

Institutional Investors Weigh In On PAVmed

Several hedge funds and other institutional investors have recently modified their holdings of PAVM. Two Seas Capital LP purchased a new stake in shares of PAVmed during the second quarter valued at $2,742,000. BlackRock Inc. bought a new stake in shares of PAVmed during the 2nd quarter valued at $102,000. Geode Capital Management LLC boosted its holdings in PAVmed by 74.8% in the 4th quarter. Geode Capital Management LLC now owns 168,832 shares of the company’s stock worth $40,000 after buying an additional 72,258 shares during the period. Finally, Jane Street Group LLC boosted its stake in shares of PAVmed by 392.9% in the second quarter. Jane Street Group LLC now owns 52,676 shares of the company’s stock worth $32,000 after acquiring an additional 41,990 shares during the period. 19.93% of the stock is currently owned by institutional investors.

PAVmed Trading Down 2.1%

PAVmed stock traded down $0.09 during trading hours on Friday, reaching $4.18. 7,909 shares of the company’s stock were exchanged, compared to its average volume of 19,947. The firm has a market capitalization of $33.44 million, a PE ratio of -0.26 and a beta of 0.53. PAVmed has a twelve month low of $3.85 and a twelve month high of $28.44. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.98. The firm’s 50 day simple moving average is $5.12 and its 200 day simple moving average is $6.91.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Weiss Ratings lowered shares of PAVmed from a “sell (d)” rating to a “sell (e+)” rating in a research note on Friday, August 14th. Ascendiant Capital Markets reduced their price objective on PAVmed from $65.00 to $56.00 and set a “buy” rating for the company in a research report on Monday, June 8th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $56.00.

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.