PAVmed (NASDAQ:PAVM) Posts Quarterly Earnings Results, Beats Expectations By $4.40 EPS
by Tristan Rich · The Markets DailyPAVmed (NASDAQ:PAVM – Get Free Report) issued its quarterly earnings data on Friday. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($4.50) by $4.40, FiscalAI reports. The firm had revenue of $0.05 million for the quarter, compared to analysts’ expectations of $0.03 million. PAVmed had a net margin of 10,672.42% and a negative return on equity of 754.98%.
PAVmed Trading Down 3.0%
PAVmed stock traded down $0.27 during midday trading on Friday, hitting $8.67. The stock had a trading volume of 15,388 shares, 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 company has a market capitalization of $8.53 million, a PE ratio of -0.51 and a beta of 0.90. The firm’s fifty day moving average is $9.76 and its two-hundred day moving average is $10.72.
Hedge Funds Weigh In On PAVmed
A hedge fund recently raised its stake in PAVmed stock. Jane Street Group LLC grew its position in shares of PAVmed Inc. (NASDAQ:PAVM – Free Report) by 392.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,676 shares of the company’s stock after purchasing an additional 41,990 shares during the period. Jane Street Group LLC owned approximately 0.31% of PAVmed worth $32,000 at the end of the most recent reporting period. 19.93% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
PAVM has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PAVmed in a report on Thursday, January 22nd. Wall Street Zen raised shares of PAVmed to a “sell” rating in a research report on Saturday, February 14th. Finally, Ascendiant Capital Markets decreased their target price on PAVmed from $600.00 to $510.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, PAVmed has a consensus rating of “Hold” and an average target price of $510.00.
Get Our Latest Stock Analysis on PAVM
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.