PAVmed Inc. (NASDAQ:PAVM – Get Rating) shares crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $0.49 and traded as low as $0.40. PAVmed shares last traded at $0.41, with a volume of 428,111 shares.
Analysts Set New Price Targets
Several equities analysts have recently commented on PAVM shares. Lake Street Capital reduced their target price on PAVmed from $5.00 to $1.50 and set a "buy" rating for the company in a research note on Wednesday, January 18th. Cantor Fitzgerald lowered PAVmed from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $4.00 to $1.50 in a report on Friday, January 20th. Finally, Ascendiant Capital Markets set a $8.25 price target on PAVmed in a report on Thursday, November 24th.
Get PAVmed alerts:PAVmed Price Performance
The company has a market capitalization of $35.19 million, a price-to-earnings ratio of -0.36 and a beta of 0.88. The business has a fifty day moving average price of $0.49 and a 200 day moving average price of $0.74.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in PAVmed by 2.9% during the first quarter. Vanguard Group Inc. now owns 4,216,982 shares of the company's stock valued at $5,567,000 after buying an additional 116,997 shares in the last quarter. Millennium Management LLC bought a new position in PAVmed during the second quarter valued at about $1,483,000. State Street Corp boosted its stake in PAVmed by 8.8% during the first quarter. State Street Corp now owns 1,496,536 shares of the company's stock valued at $1,975,000 after buying an additional 120,691 shares in the last quarter. Wells Fargo & Company MN boosted its stake in PAVmed by 18.6% during the fourth quarter. Wells Fargo & Company MN now owns 366,570 shares of the company's stock valued at $176,000 after buying an additional 57,533 shares in the last quarter. Finally, Levin Capital Strategies L.P. boosted its stake in PAVmed by 86.8% during the fourth quarter. Levin Capital Strategies L.P. now owns 279,750 shares of the company's stock valued at $134,000 after buying an additional 130,000 shares in the last quarter. Institutional investors own 13.98% of the company's stock.
PAVmed Company Profile
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PAVmed, Inc is a commercial-stage technology medical device company, which engages in the commercialization of medical technologies. It operates through the following divisions: Medical Devices, Diagnostics, Digital Health, and Emerging Innovations. Its products include cell collection devices, esophageal DNA tests, carpal tunnel release, implantable intraosseous vascular access devices, and antimicrobial resorbable ear tubes.
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