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

PAVmed Inc. (NASDAQ:PAVM) was the recipient of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 318,700 shares, a growth of 21.4% from the February 13th total of 262,500 shares. Based on an average daily volume of 219,000 shares, the days-to-cover ratio is currently 1.5 days. Currently, 4.5% of the company’s stock are short sold.

Institutional Trading of PAVmed

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

PAVmed Stock Down 2.2 %

Shares of PAVM stock traded down $0.02 during trading on Wednesday, reaching $0.75. 80,064 shares of the company’s stock were exchanged, compared to its average volume of 106,578. The stock has a market capitalization of $8.30 million, a PE ratio of -0.17 and a beta of 1.19. PAVmed has a twelve month low of $0.57 and a twelve month high of $2.84. The firm’s fifty day moving average price is $0.68 and its 200-day moving average price is $0.92.

Wall Street Analysts Forecast Growth

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

About PAVmed

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.