PAVmed Inc. (NASDAQ:PAVM) Short Interest Down 35.1% in April

PAVmed Inc. (NASDAQ:PAVM) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totaling 15,238 shares, a decline of 35.1% from the March 31st total of 23,477 shares. Approximately 1.6% of the company’s stock are short sold. Based on an average daily volume of 10,021 shares, the days-to-cover ratio is currently 1.5 days.

Hedge Funds Weigh In On PAVmed

An institutional investor recently raised its position in PAVmed stock. Geode Capital Management LLC boosted its position in PAVmed Inc. (NASDAQ:PAVM) by 74.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 168,832 shares of the company’s stock after buying an additional 72,258 shares during the period. Geode Capital Management LLC owned approximately 17.23% of PAVmed worth $40,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 19.93% of the company’s stock.

Analyst Upgrades and Downgrades

PAVM has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of PAVmed in a report on Tuesday, April 21st. Wall Street Zen upgraded shares of PAVmed from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Finally, Ascendiant Capital Markets cut their price objective on shares of PAVmed from $510.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $65.00.

PAVmed Stock Down 7.0%

Shares of PAVM traded down $0.62 during mid-day trading on Thursday, hitting $8.30. 33,047 shares of the company traded hands, compared to its average volume of 764,554. PAVmed has a 1-year low of $6.00 and a 1-year high of $28.44. The company has a market capitalization of $8.27 million, a PE ratio of -0.36 and a beta of 0.81. The business has a 50 day moving average of $9.70 and a 200 day moving average of $10.06.

PAVmed Company Profile

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.