The 31-year-old was hit three times – in his back, face and leg – and was described as in a critical condition when he was admitted to Skåne University Hospital on Friday.
Malmö police confirmed however on Saturday afternoon that the man’s condition has stabilized and they are hopeful of being able to interview him soon.
There were several witnesses to the shooting which occurred on Bergsgatan close to the busy market square Möllevångstorget shortly before 3pm on Friday afternoon.
The 28-year-old man is suspected of attempted murder and police have searched his apartment and are currently trying to track both him and his car.
Witnesses provided several photos of the man as he fled, clad in black clothing.
The police were unwilling to confirm the basis of their suspicions against the man, who holds no prior criminal record.
“Neither the victim nor the suspect are known criminals. It remains to be investigated why this happened,” said Calle Persson at Skåne police.
Spent cartridges have been recovered from the crime scene and it has been surmised that the weapon used in the shooting was a pistol.