PAVmed Inc. (PAVM) Insider, 13F Hedge Fund & Politician Buy/Sell Thermometer

Per the Roarable RQD rating, PAVM scores 28 out of 100, earning a letter grade of E and the verdict "Roarable Strong Sell — Forensic Risk / Avoid." The five pillars are: Fundamental Cash Engine at 8/20 (ROIC -35%; FCF yield 0%), Whale 13F Flow at 3/20 (institutional accumulation and options positioning), Insider Conviction at 3/20 (SEC Form 4 and Congressional PTR cluster flow), Macro Regime Fit at 6/20 (Beta 1.0; sector sensitivity), and Forensic Balance Sheet at 8/20 (Altman Z 2.5; Piotroski F 1/9; Debt/Equity 0.5). Every pillar sits in the lower half of its range, with the two weakest being Whale 13F Flow and Insider Conviction. For a prospective investor, the upside case rests on a stock priced at $1.97 with a 52-week range of $1.84 to $28.44, which implies the market has already priced in severe deterioration. However, the cash-engine pillar shows negative returns on invested capital and no free-cash-flow yield, meaning the business is not currently generating a return that would support a valuation rebound on fundamentals. The forensic pillar's Piotroski F-Score of 1 out of 9 signals weak financial health across the nine tests. The institutional and insider pillars do not offer a counterweight, as both score 3 of 20. The composite profile therefore points to elevated risk and limited near-term fundamental support, which is the analytical basis for the rating's avoid verdict.

Per the SEC financials, gross margin is -30%, operating margin is -60%, and net margin is -60%, with ROIC at -35%. Revenue declined from $3.0M in FY 2024 to $0.1M in FY 2025, while operating losses narrowed from $-44.5M to $-21.8M. The FY 2024 net income of $32.0M contrasts sharply with its operating loss and should be treated as an anomaly the source data does not explain. The Altman Z-Score is 2.5 and the Piotroski F-Score is 1 of 9 per the Roarable RQD rating, with Debt/Equity at 0.5. Cash stood at $1.5M at FY 2025 year-end.

Per the recent news wire, the most significant item is a $15 million Series C preferred stock raise by subsidiary Lucid Diagnostics, reported across several outlets (Investing.com, TradingView, and a GREEN catalyst flag). Financing of this kind supports near-term liquidity but adds dilution and preferred claims ahead of common holders. A Q3 2026 business update call is scheduled for November 13, 2026 (MARKET WIRE, YELLOW). Several items are market-wire commentary on price levels, including references to support near $2.29 and a price near $2.41, which are not fundamental catalysts. Benzinga pre-market and after-market health care roundups reference PAVM among moving stocks, indicating news-driven volatility rather than a fundamental change. The Butterfly supply-chain graph reports no supply chain links and no proprietary signals.

• What drives the FY 2024 net income of $32.0M against an operating loss of $-44.5M, and is it recurring?
• What are the debt amounts, since FY 2025 and FY 2024 debt is listed as N/A?
• What are the terms of the Lucid Diagnostics Series C preferred stock, including dilution and liquidation preference?
• What is the source of the discrepancy between the $0.0B market cap in the profile and the $15.8M in market data?
• What revenue sources generate the $0.1M reported in FY 2025?