PAVmed Inc. (NASDAQ:PAVM) Short Interest Up 299.7% in June

PAVmed Inc. (NASDAQ:PAVM) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 33,650 shares, a growth of 299.7% from the June 15th total of 8,418 shares. Approximately 3.9% of the company’s shares are short sold. Based on an average trading volume of 35,155 shares, the days-to-cover ratio is presently 1.0 days.

PAVmed Stock Down 1.8%

PAVM traded down $0.10 during midday trading on Monday, hitting $5.50. The company had a trading volume of 6,195 shares, compared to its average volume of 23,012. PAVmed has a 52 week low of $3.85 and a 52 week high of $28.44. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $5.50 million, a price-to-earnings ratio of -0.15 and a beta of 0.54. The stock’s 50 day moving average price is $5.78 and its 200 day moving average price is $8.07.

PAVmed (NASDAQ:PAVM) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($0.69) by ($0.48). The company had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.07 million. PAVmed had a negative net margin of 21,914.12% and a negative return on equity of 146.19%. On average, research analysts anticipate that PAVmed will post -2.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Ascendiant Capital Markets decreased their price target on PAVmed from $65.00 to $56.00 and set a “buy” rating for the company in a report on Monday, June 8th. Weiss Ratings restated a “sell (d)” rating on shares of PAVmed in a research report on Tuesday, April 21st. Finally, Wall Street Zen raised PAVmed from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. 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’s stock. Based on data from MarketBeat, PAVmed presently has a consensus rating of “Hold” and an average price target of $56.00.

Institutional Investors Weigh In On PAVmed

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

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.