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

CervoMed Inc. (NASDAQ:CRVO) has been given an average rating of “Moderate Buy” by the seven brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $21.00.

Several equities analysts recently issued reports on CRVO shares. Chardan Capital upgraded CervoMed to a “strong-buy” rating in a research report on Monday, August 3rd. HC Wainwright reiterated a “buy” rating on shares of CervoMed in a research note on Wednesday, August 12th. Wall Street Zen raised CervoMed from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings cut CervoMed from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday. Finally, Roth Capital set a $7.00 price target on CervoMed in a report on Thursday, August 20th.

Insider Activity

In related news, Director Joshua S. Boger bought 955,414 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was bought at an average cost of $3.14 per share, with a total value of $2,999,999.96. Following the completion of the acquisition, the director owned 1,795,865 shares in the company, valued at approximately $5,639,016.10. This represents a 113.68% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 35.80% of the stock is owned by corporate insiders.

Institutional Trading of CervoMed

Several large investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. grew its stake in CervoMed by 8,425,900.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 84,260 shares of the company’s stock worth $666,000 after acquiring an additional 84,259 shares during the period. Jane Street Group LLC acquired a new stake in shares of CervoMed during the second quarter worth $414,000. Renaissance Technologies LLC acquired a new stake in shares of CervoMed during the first quarter worth $252,000. BlackRock Inc. purchased a new stake in shares of CervoMed in the second quarter valued at $167,000. Finally, Citizens Financial Group Inc. RI acquired a new position in CervoMed in the second quarter valued at $116,000. 25.15% of the stock is currently owned by institutional investors and hedge funds.

CervoMed Price Performance

Shares of CRVO opened at $2.56 on Tuesday. The company has a market capitalization of $38.71 million, a price-to-earnings ratio of -0.80 and a beta of -0.64. CervoMed has a 52-week low of $2.13 and a 52-week high of $10.74. The stock has a 50 day moving average price of $2.88 and a 200 day moving average price of $3.46.

CervoMed (NASDAQ:CRVO) last released its quarterly earnings data on Friday, August 7th. The company reported ($0.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.86) by $0.22. CervoMed had a negative net margin of 672.80% and a negative return on equity of 156.02%. On average, equities analysts anticipate that CervoMed will post -2.38 EPS for the current fiscal year.

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.