Short Interest in PAVmed Inc. (NASDAQ:PAVM) Declines By 95.6%

PAVmed Inc. (NASDAQ:PAVM) was the recipient of a significant decline in short interest during the month of January. As of January 15th, there was short interest totaling 49,495 shares, a decline of 95.6% from the December 31st total of 1,130,869 shares. Based on an average daily volume of 35,560 shares, the days-to-cover ratio is presently 1.4 days. Approximately 5.5% of the shares of the stock are sold short. Approximately 5.5% of the shares of the stock are sold short. Based on an average daily volume of 35,560 shares, the days-to-cover ratio is presently 1.4 days.

PAVmed Trading Down 5.9%

Shares of NASDAQ PAVM traded down $0.48 during trading hours on Thursday, reaching $7.64. The stock had a trading volume of 61,801 shares, compared to its average volume of 2,913,635. PAVmed has a 52-week low of $6.00 and a 52-week high of $28.44. The firm has a market cap of $7.49 million, a price-to-earnings ratio of -0.45 and a beta of 1.10. The business’s fifty day moving average price is $9.02 and its two-hundred day moving average price is $12.15.

Hedge Funds Weigh In On PAVmed

An institutional investor recently raised its position in PAVmed stock. Jane Street Group LLC raised its position in shares of PAVmed Inc. (NASDAQ:PAVM) by 392.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,676 shares of the company’s stock after purchasing an additional 41,990 shares during the quarter. Jane Street Group LLC owned 0.31% of PAVmed worth $32,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 19.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Zacks Research lowered PAVmed from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Ascendiant Capital Markets dropped their target price on PAVmed from $600.00 to $510.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of PAVmed in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.