Two Seas Capital LP purchased a new position in shares of PAVmed Inc. (NASDAQ:PAVM – Free Report) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 461,539 shares of the company’s stock, valued at approximately $2,742,000. Two Seas Capital LP owned about 0.46% of PAVmed at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the business. Geode Capital Management LLC boosted its stake in shares of PAVmed by 74.8% in the 4th quarter. Geode Capital Management LLC now owns 168,832 shares of the company’s stock valued at $40,000 after purchasing an additional 72,258 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of PAVmed by 392.9% during the 2nd quarter. Jane Street Group LLC now owns 52,676 shares of the company’s stock valued at $32,000 after purchasing an additional 41,990 shares during the last quarter. Finally, BlackRock Inc. purchased a new position in PAVmed in the 2nd quarter worth $102,000. 19.93% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms have weighed in on PAVM. Weiss Ratings downgraded shares of PAVmed from a “sell (d)” rating to a “sell (e+)” rating in a research note on Friday, August 14th. Ascendiant Capital Markets reduced their price objective on PAVmed from $65.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, June 8th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, PAVmed has an average rating of “Hold” and an average price target of $56.00.
PAVmed Price Performance
Shares of NASDAQ PAVM opened at $5.18 on Friday. The firm’s fifty day moving average is $5.19 and its 200 day moving average is $7.46. PAVmed Inc. has a 52 week low of $3.85 and a 52 week high of $28.44. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.98. The company has a market cap of $41.44 million, a price-to-earnings ratio of -0.32 and a beta of 0.54.
PAVmed 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.
See Also
- Five stocks we like better than PAVmed
- 2 Biotech Stocks Shaping Up for Major Breakouts
- 3 Stocks Came Roaring Back—Now They’re Flashing Warning Signs
- 3 Beaten-Down Stocks That Haven’t Gotten the Message About the S&P 500’s Record Run
- Darden Restaurants Just Hit a 52-Week High–Is the Olive Garden Comeback Story Legit?
Want to see what other hedge funds are holding PAVM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PAVmed Inc. (NASDAQ:PAVM – Free Report).
Receive News & Ratings for PAVmed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PAVmed and related companies with MarketBeat.com's FREE daily email newsletter.
