PAVmed Inc. (NASDAQ:PAVM) shares are pulling back Thursday, possibly retracing recent gains after rising Wednesday on news that its subsidiary, Lucid Diagnostics Inc. (NASDAQ:LUCD), secured a Department of Veterans Affairs contract for its EsoGuard Esophageal DNA Test.
Lucid Diagnostics Wins VA Contract for EsoGuard Test
Lucid said the contract expands access to EsoGuard across the VA's nationwide healthcare system, which serves more than nine million enrolled veterans annually. The agreement was issued under the VA Federal Supply Schedule and includes pre-negotiated pricing that matches the established Medicare payment rate set by the Centers for Medicare & Medicaid Services.
The company said the national contract allows VA hospitals and healthcare facilities to procure EsoGuard through a single, standardized framework. Lucid added that the award reflects the clinical evidence supporting the test and positions the company to work with additional integrated health systems to incorporate EsoGuard into standard clinical practice.
Technical Analysis Of PAVmed
PAVmed is currently trading 40.4% above its 20-day simple moving average (SMA) and 0.8% below its 100-day SMA, indicating short-term strength but potential weakness in the longer term. Over the past 12 months, shares have decreased by 31.92%, and they are positioned closer to their 52-week lows than highs, suggesting ongoing challenges for the stock.
The RSI is at 64.22, indicating neutral territory, while the MACD is above its signal line, suggesting bullish momentum. This combination of indicators points to a mixed momentum scenario, as the stock shows signs of strength but is not decisively bullish.
Benzinga Edge Rankings
Below is the Benzinga Edge scorecard for PAVmed, highlighting its strengths and weaknesses compared to the broader market:
- Value: Weak (Score: 0.55) — The stock is underperforming in terms of value metrics.
- Growth: Strong (Score: 7.74) — The stock shows potential for growth compared to peers.
- Momentum: Moderate (Score: 5.6) — The stock is showing some positive momentum but lacks strong upward movement.
The Verdict: PAVmed’s Benzinga Edge signal reveals a mixed outlook. While the Growth score indicates potential, the weak Value score suggests caution for investors considering entry points.
PAVM Price Action: At the time of writing, PAVmed shares are trading 4.90% lower at $11.46, according to data from Benzinga Pro.
This illustration was generated using artificial intelligence via Midjourney.
