Short Interest in PAVmed Inc. (NASDAQ:PAVM) Expands By 21.4%

PAVmed Inc. (NASDAQ:PAVM) was the target of a large increase in short interest during the month of 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. Approximately 4.5% of the shares of the stock are short sold. Based on an average daily volume of 219,000 shares, the days-to-cover ratio is presently 1.5 days.

Wall Street Analyst Weigh In

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

PAVmed Stock Performance

Shares of PAVM opened at $0.75 on Thursday. The stock has a fifty day moving average price of $0.68 and a two-hundred day moving average price of $0.92. The company has a market cap of $8.30 million, a price-to-earnings ratio of -0.17 and a beta of 1.19. PAVmed has a 52-week low of $0.57 and a 52-week high of $2.84.

Hedge Funds Weigh In On PAVmed

An institutional investor recently raised its position in PAVmed stock. First Manhattan CO. LLC. increased its stake in PAVmed Inc. (NASDAQ:PAVM) by 16.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 700,000 shares of the company’s stock after purchasing 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 SEC filing. 19.93% of the stock is currently owned by hedge funds and other institutional investors.

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.