PAVmed (NASDAQ:PAVM) Price Target Lowered to $1.50 at Lake Street Capital

PAVmed (NASDAQ:PAVM – Get Rating) had its target price cut by Lake Street Capital from $5.00 to $1.50 in a research note released on Wednesday, The Fly reports. They currently have a buy rating on the stock.

Separately, Ascendiant Capital Markets set a $8.25 price target on PAVmed in a research note on Thursday, November 24th.

PAVmed Price Performance

Shares of PAVM stock opened at $0.46 on Wednesday. The stock has a market capitalization of $41.49 million, a PE ratio of -0.47 and a beta of 0.79. PAVmed has a 52-week low of $0.40 and a 52-week high of $2.34. The stock’s 50-day moving average price is $0.61 and its 200 day moving average price is $0.99.

PAVmed (NASDAQ:PAVM – Get Rating) last released its earnings results on Tuesday, November 15th. The company reported ($0.21) earnings per share (EPS) for the quarter. The business had revenue of $0.08 million during the quarter. Analysts expect that PAVmed will post -1.06 earnings per share for the current fiscal year.

Insider Buying and Selling at PAVmed

In other news, Director Michael J. Glennon acquired 62,000 shares of the company’s stock in a transaction dated Monday, December 5th. The stock was acquired at an average cost of $0.69 per share, for a total transaction of $42,780.00. Following the acquisition, the director now directly owns 62,000 shares in the company, valued at approximately $42,780. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Michael J. Glennon purchased 100,000 shares of the stock in a transaction that occurred on Wednesday, December 7th. The stock was purchased at an average cost of $0.62 per share, for a total transaction of $62,000.00. Following the acquisition, the director now owns 250,000 shares in the company, valued at $155,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael J. Glennon purchased 62,000 shares of the stock in a transaction that occurred on Monday, December 5th. The stock was bought at an average price of $0.69 per share, with a total value of $42,780.00. Following the completion of the acquisition, the director now owns 62,000 shares in the company, valued at approximately $42,780. The disclosure for this purchase can be found here. 14.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PAVmed

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC bought a new position in shares of PAVmed during the second quarter worth about $1,483,000. Vanguard Group Inc. lifted its holdings in PAVmed by 6.8% in the third quarter. Vanguard Group Inc. now owns 3,700,905 shares of the company’s stock worth $3,182,000 after acquiring an additional 236,448 shares during the last quarter. Verition Fund Management LLC bought a new position in PAVmed in the first quarter worth about $196,000. State Street Corp lifted its holdings in PAVmed by 8.8% in the first quarter. State Street Corp now owns 1,496,536 shares of the company’s stock worth $1,975,000 after acquiring an additional 120,691 shares during the last quarter. Finally, Lido Advisors LLC lifted its holdings in PAVmed by 400.0% in the first quarter. Lido Advisors LLC now owns 50,000 shares of the company’s stock worth $66,000 after acquiring an additional 40,000 shares during the last quarter. 13.98% of the stock is owned by hedge funds and other institutional investors.

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.