PAVmed (NASDAQ:PAVM) Shares Pass Below 50-Day Moving Average – Time to Sell?

PAVmed Inc. (NASDAQ:PAVM)’s stock price 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.

Analyst Ratings Changes

A number of brokerages recently weighed in on PAVM. Wall Street Zen raised shares of PAVmed from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Ascendiant Capital Markets decreased their price target on shares of PAVmed from $510.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Finally, Weiss Ratings reaffirmed 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 assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $65.00.

PAVmed Stock Performance

The stock has a market cap of $9.33 million, a PE ratio of -0.41 and a beta of 0.81. The stock has a fifty day simple moving average of $9.86 and a two-hundred day simple moving average of $10.27.

Hedge Funds Weigh In On PAVmed

A hedge fund recently raised its stake in PAVmed stock. Jane Street Group LLC boosted its stake in PAVmed Inc. (NASDAQ:PAVM) by 392.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,676 shares of the company’s stock after acquiring an additional 41,990 shares during the quarter. Jane Street Group LLC owned about 0.31% of PAVmed worth $32,000 at the end of the most recent reporting period. 19.93% of the stock is owned by institutional investors and hedge funds.

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.