CervoMed (NASDAQ:CRVO) Given “Buy” Rating at Chardan Capital

CervoMed (NASDAQ:CRVO)‘s stock had its “buy” rating restated by Chardan Capital in a note issued to investors on Thursday,Benzinga reports. They currently have a $15.00 price objective on the stock. Chardan Capital’s price objective suggests a potential upside of 273.13% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Brookline Capital Acquisition upgraded shares of CervoMed to a “strong-buy” rating in a research note on Tuesday, February 3rd. Cantor Fitzgerald began coverage on shares of CervoMed in a research note on Thursday, December 18th. They set an “overweight” rating on the stock. D. Boral Capital restated a “buy” rating and set a $31.00 target price on shares of CervoMed in a research report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CervoMed in a report on Wednesday, January 21st. Finally, Zacks Research upgraded CervoMed from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.17.

CervoMed Stock Performance

NASDAQ:CRVO opened at $4.02 on Thursday. The firm’s fifty day moving average is $5.99 and its two-hundred day moving average is $7.56. The firm has a market cap of $37.19 million, a price-to-earnings ratio of -1.39 and a beta of -0.77. CervoMed has a one year low of $1.92 and a one year high of $16.94.

Institutional Investors Weigh In On CervoMed

Institutional investors have recently modified their holdings of the company. Rhumbline Advisers lifted its holdings in shares of CervoMed by 35.5% in the 1st quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock valued at $53,000 after purchasing an additional 1,526 shares during the last quarter. XTX Topco Ltd acquired a new position in CervoMed during the fourth quarter worth $81,000. Jane Street Group LLC acquired a new stake in shares of CervoMed in the fourth quarter valued at about $88,000. GSA Capital Partners LLP purchased a new position in CervoMed in the 3rd quarter valued at approximately $91,000. Finally, Marshall Wace LLP purchased a new position in shares of CervoMed during the 2nd quarter worth approximately $76,000. 25.15% of the stock is owned by hedge funds and other institutional investors.

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.