PAVmed Inc. (NASDAQ:PAVM) shares gapped down before the market opened on Tuesday . The stock had previously closed at $5.55, but opened at $4.48. PAVmed shares last traded at $4.61, with a volume of 49,609 shares.
A number of brokerages have recently issued reports on PAVM. Ascendiant Capital Markets began coverage on PAVmed in a report on Thursday, November 5th. They issued a “buy” rating and a $5.00 price target on the stock. Lake Street Capital lifted their price target on PAVmed from $5.00 to $9.00 and gave the company a “buy” rating in a report on Monday.
The stock has a fifty day moving average price of $2.59 and a 200-day moving average price of $2.08. The firm has a market capitalization of $329.32 million, a PE ratio of -5.46 and a beta of 0.13.
A number of hedge funds have recently made changes to their positions in PAVM. CIBC Private Wealth Group LLC purchased a new position in PAVmed during the 3rd quarter worth $65,000. Financial Advocates Investment Management purchased a new position in PAVmed during the 3rd quarter worth $35,000. BlackRock Inc. grew its stake in PAVmed by 2.1% during the 3rd quarter. BlackRock Inc. now owns 1,768,661 shares of the company’s stock worth $3,148,000 after buying an additional 36,908 shares during the last quarter. State Street Corp grew its stake in PAVmed by 16.7% during the 3rd quarter. State Street Corp now owns 416,769 shares of the company’s stock worth $742,000 after buying an additional 59,596 shares during the last quarter. Finally, First Wilshire Securities Management Inc. purchased a new position in PAVmed during the 3rd quarter worth $89,000. Hedge funds and other institutional investors own 14.14% of the company’s stock.
PAVmed Company Profile (NASDAQ:PAVM)
PAVmed Inc operates as a medical device company in the United States. The company's lead product pipeline includes CarpX, a percutaneous device to treat carpal tunnel syndrome; EsoCheck, an non-invasive cell collection device and DNA biomarkers to detect esophageal cancer precursor; PortIO, an implantable intraosseous vascular access device; and DisappEAR, an antimicrobial resorbable ear tube.
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