PAVmed Inc. (NASDAQ:PAVM) Short Interest Up 41.4% in May

PAVmed Inc. (NASDAQ:PAVM) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 330,000 shares, a growth of 41.4% from the April 30th total of 233,300 shares. Based on an average trading volume of 153,200 shares, the short-interest ratio is currently 2.2 days. Approximately 2.5% of the shares of the stock are short sold.

Hedge Funds Weigh In On PAVmed

An institutional investor recently raised its position in PAVmed stock. First Manhattan CO. LLC. grew its position in shares of PAVmed Inc. (NASDAQ:PAVM) by 16.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 Stock Performance

Shares of NASDAQ:PAVM traded down $0.01 during midday trading on Tuesday, reaching $0.60. 200,348 shares of the company’s stock traded hands, compared to its average volume of 183,527. The stock has a 50 day moving average of $0.69 and a 200 day moving average of $0.72. The company has a market cap of $10.26 million, a price-to-earnings ratio of -0.14 and a beta of 1.11. PAVmed has a one year low of $0.55 and a one year high of $1.90.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets increased their price objective on PAVmed from $19.00 to $19.50 and gave the stock a “buy” rating in a report on Monday, April 21st.

PAVmed Company Profile

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.