CervoMed’s (CRVO) “Buy” Rating Reiterated at D. Boral Capital

CervoMed (NASDAQ:CRVO)‘s stock had its “buy” rating reissued by investment analysts at D. Boral Capital in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $31.00 price objective on the stock.

Several other brokerages also recently commented on CRVO. HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of CervoMed in a research report on Thursday, December 18th. Brookline Capital Acquisition upgraded CervoMed to a “strong-buy” rating in a research report on Tuesday, February 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of CervoMed in a research report on Wednesday, January 21st. Zacks Research raised CervoMed from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Finally, Cantor Fitzgerald initiated coverage on shares of CervoMed in a report on Thursday, December 18th. They issued an “overweight” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, CervoMed has an average rating of “Moderate Buy” and a consensus price target of $22.17.

CervoMed Stock Down 3.8%

CRVO opened at $4.54 on Wednesday. CervoMed has a twelve month low of $1.92 and a twelve month high of $16.94. The stock has a market capitalization of $42.00 million, a price-to-earnings ratio of -1.57 and a beta of -0.82. The company has a 50-day simple moving average of $6.82 and a 200 day simple moving average of $7.95.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp raised its stake in CervoMed by 11.4% during the fourth quarter. State Street Corp now owns 20,527 shares of the company’s stock worth $162,000 after buying an additional 2,100 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of CervoMed in the 4th quarter valued at about $88,000. HRT Financial LP acquired a new stake in CervoMed during the fourth quarter worth approximately $113,000. Dimensional Fund Advisors LP bought a new stake in CervoMed in the fourth quarter worth approximately $110,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in CervoMed by 8,425,900.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 84,260 shares of the company’s stock worth $666,000 after purchasing an additional 84,259 shares in the last quarter. Institutional investors and hedge funds own 25.15% of the company’s stock.

About CervoMed

CervoMed Inc, a biotechnology company, engages in the development and commercialization of treatments for age-related neurologic disorders. Its lead drug candidate is neflamapimod, an orally administered small molecule brain penetrant for the treatment of dementia with Lewy bodies (DLB), Alzheimer's diseases, frontotemporal dementia, and ischemic stroke recovery. The company also develops EIP200 for central nervous system which is in preclinical trials. CervoMed Inc was founded in 2010 and is headquartered in Boston, Massachusetts.