CervoMed Inc. (NASDAQ:CRVO) Receives Average Recommendation of “Moderate Buy” from Analysts

CervoMed Inc. (NASDAQ:CRVO) has received a consensus rating of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $22.60.

Several equities research analysts have recently commented on the stock. Chardan Capital lifted their price target on shares of CervoMed from $15.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of CervoMed in a report on Thursday, April 23rd. D. Boral Capital restated a “buy” rating and set a $31.00 price objective on shares of CervoMed in a report on Wednesday, April 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of CervoMed in a report on Monday, April 20th. Finally, Roth Mkm set a $9.00 price objective on shares of CervoMed in a report on Monday, May 18th.

CervoMed Price Performance

Shares of NASDAQ:CRVO opened at $3.12 on Friday. CervoMed has a one year low of $2.82 and a one year high of $13.13. The company has a 50 day moving average of $3.65 and a 200-day moving average of $5.52. The stock has a market cap of $28.89 million, a price-to-earnings ratio of -0.95 and a beta of -0.68.

CervoMed (NASDAQ:CRVO) last issued its quarterly earnings results on Monday, May 18th. The company reported ($0.86) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.04. CervoMed had a negative net margin of 672.80% and a negative return on equity of 136.08%. Equities research analysts anticipate that CervoMed will post -2.86 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CRVO. AQR Capital Management LLC acquired a new position in CervoMed during the first quarter valued at approximately $227,000. Rhumbline Advisers grew its holdings in CervoMed by 35.5% during the first 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 period. Marshall Wace LLP acquired a new position in CervoMed during the second quarter valued at approximately $76,000. Jane Street Group LLC acquired a new position in CervoMed during the second quarter valued at approximately $414,000. Finally, Thompson Davis & CO. Inc. grew its holdings in CervoMed by 20.8% during the third quarter. Thompson Davis & CO. Inc. now owns 16,850 shares of the company’s stock valued at $136,000 after purchasing an additional 2,900 shares during the period. Institutional investors and hedge funds own 25.15% of the company’s stock.

CervoMed Company Profile

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.