Ascendiant Capital Markets Issues Pessimistic Forecast for PAVmed (NASDAQ:PAVM) Stock Price

PAVmed (NASDAQ:PAVM) had its price objective dropped by equities research analysts at Ascendiant Capital Markets from $510.00 to $65.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Several other research firms have also commented on PAVM. Wall Street Zen upgraded PAVmed from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Weiss Ratings reiterated a “sell (d)” rating on shares of PAVmed in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $65.00.

PAVmed Stock Performance

Shares of PAVmed stock opened at $9.24 on Thursday. PAVmed has a one year low of $6.00 and a one year high of $28.44. The company has a market capitalization of $9.20 million, a PE ratio of -0.41 and a beta of 0.81. The company has a 50-day simple moving average of $10.04 and a two-hundred day simple moving average of $10.52.

Institutional Trading of PAVmed

A hedge fund recently raised its stake in PAVmed stock. Geode Capital Management LLC boosted its position in shares of PAVmed Inc. (NASDAQ:PAVM) by 74.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 168,832 shares of the company’s stock after acquiring an additional 72,258 shares during the quarter. Geode Capital Management LLC owned 17.23% of PAVmed worth $40,000 at the end of the most recent quarter. 19.93% of the stock is currently owned by hedge funds and other institutional investors.

About PAVmed

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.