PAVmed (NASDAQ:PAVM) Stock Passes Below 50 Day Moving Average – Here’s Why
by Kim Johansen · The Markets DailyShares of PAVmed Inc. (NASDAQ:PAVM – Get Free Report) crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $9.86 and traded as low as $9.15. PAVmed shares last traded at $9.37, with a volume of 8,140 shares trading hands.
Analyst Ratings Changes
PAVM has been the topic of several recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of PAVmed in a research note on Tuesday. Ascendiant Capital Markets cut their target price on shares of PAVmed from $510.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Finally, Wall Street Zen upgraded PAVmed from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $65.00.
View Our Latest Analysis on PAVmed
PAVmed Trading Down 1.9%
The business has a 50 day moving average of $9.81 and a two-hundred day moving average of $10.25. The firm has a market cap of $9 million, a P/E ratio of -0.40 and a beta of 0.81.
Institutional Trading of PAVmed
An institutional investor recently raised its position in PAVmed stock. Geode Capital Management LLC boosted its stake in PAVmed Inc. (NASDAQ:PAVM – Free Report) by 74.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 168,832 shares of the company’s stock after buying an additional 72,258 shares during the period. Geode Capital Management LLC owned approximately 17.23% of PAVmed worth $40,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 19.93% of the company’s stock.
PAVmed Company Profile
PAVmed Inc is a clinical-stage medical technology company focused on acquiring, developing and commercializing innovative medical devices aimed primarily at gastrointestinal endoscopy and related therapeutic areas. Its portfolio includes FDA-cleared products such as EsoFLIP® Distensibility System for the treatment of esophageal strictures and MUSE™ (Medigus Ultrasonic Surgical Endostapler) for endoscopic fundoplication in gastroesophageal reflux disease (GERD). In addition to its gastrointestinal franchise, PAVmed is advancing early-stage programs targeting indications in oncology, urology and dermatology.
Founded in 2012, PAVmed has built its pipeline through internal research and development as well as strategic collaborations and acquisitions.