PAVmed Inc. (NASDAQ:PAVM) Sees Significant Drop in Short Interest

PAVmed Inc. (NASDAQ:PAVM) was the target of a large drop in short interest in March. As of March 15th, there was short interest totalling 272,000 shares, a drop of 14.7% from the February 28th total of 318,700 shares. Based on an average trading volume of 221,500 shares, the days-to-cover ratio is currently 1.2 days. Approximately 3.8% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets cut their price target on PAVmed from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, December 9th.

Hedge Funds Weigh In On PAVmed

An institutional investor recently raised its position in PAVmed stock. First Manhattan CO. LLC. increased its holdings in shares of PAVmed Inc. (NASDAQ:PAVM) by 16.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 700,000 shares of the company’s stock after buying an additional 100,000 shares during the quarter. First Manhattan CO. LLC. owned 6.32% of PAVmed worth $439,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 19.93% of the company’s stock.

PAVmed Price Performance

Shares of PAVM stock traded down $0.01 during mid-day trading on Thursday, hitting $0.66. 15,680 shares of the stock traded hands, compared to its average volume of 107,650. PAVmed has a 52-week low of $0.57 and a 52-week high of $2.43. The stock has a market cap of $11.15 million, a P/E ratio of -0.15 and a beta of 1.13. The stock’s fifty day moving average is $0.71 and its two-hundred day moving average is $0.88.

About PAVmed

PAVmed Inc focuses on acquiring, developing, and commercializing novel products that target unmet needs in the United States. The company's lead products include CarpX, a patented, single-use, disposable, and minimally invasive surgical device for use in the treatment of carpal tunnel syndrome; EsoCheck Esophageal Cell Collection Device, which consists of diagnostic test that serves as a testing tool for preventing esophageal adenocarcinoma deaths, through early detection of esophageal precancer in at-risk gastroesophageal reflux disease, including chronic heartburn and acid reflux or simply reflux in patients; and EsoGuard, a bisulfite-converted next-generation sequencing DNA assay performed on surface esophageal cells collected with EsoCheck.