Short Interest in PAVmed Inc. (NASDAQ:PAVM) Decreases By 53.0%

PAVmed Inc. (NASDAQ:PAVM) saw a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 23,246 shares, a drop of 53.0% from the February 26th total of 49,462 shares. Based on an average trading volume of 20,992 shares, the days-to-cover ratio is currently 1.1 days. Currently, 2.5% of the shares of the company are short sold.

PAVmed Stock Down 3.9%

NASDAQ PAVM traded down $0.36 during trading hours on Thursday, hitting $8.94. 19,010 shares of the stock were exchanged, compared to its average volume of 1,075,159. The company has a market cap of $8.76 million, a price-to-earnings ratio of -0.52 and a beta of 0.90. PAVmed has a 12-month low of $6.00 and a 12-month high of $28.44. The stock has a 50-day moving average of $9.76 and a 200 day moving average of $10.74.

Hedge Funds Weigh In On PAVmed

A hedge fund recently raised its stake in PAVmed stock. Jane Street Group LLC grew its holdings in PAVmed Inc. (NASDAQ:PAVM) by 392.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,676 shares of the company’s stock after buying an additional 41,990 shares during the quarter. Jane Street Group LLC owned about 0.31% of PAVmed worth $32,000 at the end of the most recent quarter. 19.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PAVM shares. Weiss Ratings reissued a “sell (d)” rating on shares of PAVmed in a report on Thursday, January 22nd. Ascendiant Capital Markets decreased their price target on PAVmed from $600.00 to $510.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Finally, Wall Street Zen upgraded shares of PAVmed to a “sell” rating in a research report on Saturday, February 14th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $510.00.

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.