PAVmed Inc. (NASDAQ:PAVM) Sees Large Growth in Short Interest

PAVmed Inc. (NASDAQ:PAVM) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 318,700 shares, an increase of 21.4% from the February 13th total of 262,500 shares. Based on an average daily volume of 219,000 shares, the short-interest ratio is presently 1.5 days. Currently, 4.5% of the shares of the stock are short sold.

Institutional Investors Weigh In On PAVmed

An institutional investor recently raised its position in PAVmed stock. First Manhattan CO. LLC. grew its stake in PAVmed Inc. (NASDAQ:PAVM) by 16.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 700,000 shares of the company’s stock after buying an additional 100,000 shares during the period. First Manhattan CO. LLC. owned 6.32% of PAVmed worth $439,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 19.93% of the company’s stock.

PAVmed Stock Performance

Shares of PAVM stock traded down $0.02 on Wednesday, hitting $0.75. The company had a trading volume of 80,064 shares, compared to its average volume of 106,578. The firm has a market cap of $8.30 million, a P/E ratio of -0.17 and a beta of 1.19. The stock’s 50-day moving average is $0.68 and its two-hundred day moving average is $0.92. PAVmed has a twelve month low of $0.57 and a twelve month high of $2.84.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets lowered their target price on PAVmed from $21.00 to $19.00 and set a “buy” rating for the company in a report on Monday, December 9th.

PAVmed Company Profile

PAVmed Inc focuses on acquiring, developing, and commercializing novel products that target unmet needs in the United States. The company's lead products include CarpX, a patented, single-use, disposable, and minimally invasive surgical device for use in the treatment of carpal tunnel syndrome; EsoCheck Esophageal Cell Collection Device, which consists of diagnostic test that serves as a testing tool for preventing esophageal adenocarcinoma deaths, through early detection of esophageal precancer in at-risk gastroesophageal reflux disease, including chronic heartburn and acid reflux or simply reflux in patients; and EsoGuard, a bisulfite-converted next-generation sequencing DNA assay performed on surface esophageal cells collected with EsoCheck.