PAVmed Inc. (NASDAQ:PAVM) Short Interest Up 21.4% in February

PAVmed Inc. (NASDAQ:PAVM) was the recipient of a significant 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. Based on an average trading volume of 219,000 shares, the days-to-cover ratio is currently 1.5 days. Approximately 4.5% of the company’s shares are short sold.

Institutional Trading of PAVmed

An institutional investor recently raised its position in PAVmed stock. First Manhattan CO. LLC. grew its position in shares of PAVmed Inc. (NASDAQ:PAVM) by 16.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 700,000 shares of the company’s stock after acquiring an additional 100,000 shares during the quarter. First Manhattan CO. LLC. owned 6.32% of PAVmed worth $439,000 at the end of the most recent reporting period. 19.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

PAVmed Stock Down 2.2 %

Shares of PAVM stock opened at $0.75 on Thursday. The firm has a fifty day moving average of $0.68 and a 200-day moving average of $0.92. PAVmed has a 12-month low of $0.57 and a 12-month high of $2.84. The firm has a market capitalization of $8.30 million, a price-to-earnings ratio of -0.17 and a beta of 1.19.

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.