PAVmed (NASDAQ:PAVM) Posts Quarterly Earnings Results, Beats Expectations By $4.40 EPS

PAVmed (NASDAQ:PAVM) released its quarterly earnings data on Friday. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($4.50) by $4.40, FiscalAI reports. The business had revenue of $0.05 million during the quarter, compared to the consensus estimate of $0.03 million. PAVmed had a negative return on equity of 754.98% and a net margin of 10,672.42%.

PAVmed Stock Performance

PAVmed stock traded down $0.27 during trading on Friday, reaching $8.67. 15,388 shares of the company’s stock were exchanged, compared to its average volume of 1,057,198. PAVmed has a 52-week low of $6.00 and a 52-week high of $28.44. The firm has a market cap of $8.53 million, a price-to-earnings ratio of -0.51 and a beta of 0.90. The company’s 50-day moving average is $9.76 and its two-hundred day moving average is $10.72.

Institutional Investors Weigh In On PAVmed

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wall Street Zen raised PAVmed to a “sell” rating in a research report on Saturday, February 14th. Ascendiant Capital Markets reduced their price objective on PAVmed from $600.00 to $510.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of PAVmed in a report on Thursday, January 22nd. One 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $510.00.

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.