Short Interest in PAVmed Inc. (NASDAQ:PAVM) Drops By 65.0%

PAVmed Inc. (NASDAQ:PAVM) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totaling 7,939 shares, a decline of 65.0% from the August 15th total of 22,659 shares. Based on an average daily trading volume, of 13,726 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.1% of the shares of the stock are sold short.

Hedge Funds Weigh In On PAVmed

A hedge fund recently bought a new stake in PAVmed stock. BlackRock Inc. bought a new position in PAVmed Inc. (NASDAQ:PAVM) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 17,092 shares of the company’s stock, valued at approximately $102,000. BlackRock Inc. owned about 1.71% of PAVmed at the end of the most recent reporting period. Hedge funds and other institutional investors own 19.93% of the company’s stock.

Analyst Upgrades and Downgrades

PAVM has been the topic of several recent analyst reports. Ascendiant Capital Markets lowered their price target on PAVmed from $65.00 to $56.00 and set a “buy” rating on the stock in a report on Monday, June 8th. Weiss Ratings downgraded shares of PAVmed from a “sell (d)” rating to a “sell (e+)” rating in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, PAVmed has an average rating of “Hold” and an average target price of $56.00.

PAVmed Price Performance

NASDAQ:PAVM traded up $0.21 during midday trading on Monday, hitting $4.39. The company had a trading volume of 60,837 shares, compared to its average volume of 18,989. PAVmed has a 52-week low of $3.85 and a 52-week high of $28.44. The stock’s fifty day moving average price is $5.11 and its 200-day moving average price is $6.85. The company has a market capitalization of $35.12 million, a PE ratio of -0.27 and a beta of 0.53. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.98.

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.