CervoMed Inc. (NASDAQ:CRVO) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of CervoMed Inc. (NASDAQ:CRVO) have received a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $21.50.

CRVO has been the topic of several research analyst reports. HC Wainwright reaffirmed a “buy” rating on shares of CervoMed in a research report on Wednesday. Chardan Capital upgraded CervoMed to a “strong-buy” rating in a research note on Monday, August 3rd. Weiss Ratings lowered CervoMed from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 31st. Roth Capital set a $9.00 price target on CervoMed in a research report on Monday, May 18th. Finally, D. Boral Capital reiterated a “buy” rating and set a $31.00 price target on shares of CervoMed in a report on Wednesday, April 22nd.

CervoMed Stock Performance

CRVO stock opened at $2.93 on Friday. The stock has a market cap of $44.30 million, a P/E ratio of -0.91 and a beta of -0.63. The firm has a 50 day simple moving average of $3.12 and a 200 day simple moving average of $3.75. CervoMed has a 52 week low of $2.13 and a 52 week high of $11.25.

CervoMed (NASDAQ:CRVO) last issued its earnings results on Friday, August 7th. The company reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.22. CervoMed had a negative return on equity of 166.00% and a negative net margin of 672.80%. Sell-side analysts predict that CervoMed will post -2.5 EPS for the current year.

Insider Buying and Selling

In other CervoMed news, Director Joshua S. Boger acquired 955,414 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $3.14 per share, for a total transaction of $2,999,999.96. Following the purchase, the director owned 1,795,865 shares in the company, valued at $5,639,016.10. This represents a 113.68% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 35.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CervoMed

Several large investors have recently made changes to their positions in CRVO. Rhumbline Advisers increased its position in shares of CervoMed by 35.5% during the 1st quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock worth $53,000 after purchasing an additional 1,526 shares in the last quarter. State Street Corp boosted its position in CervoMed by 11.4% in the fourth quarter. State Street Corp now owns 20,527 shares of the company’s stock valued at $162,000 after buying an additional 2,100 shares in the last quarter. Vanguard Group Inc. grew its stake in CervoMed by 1.0% during the third quarter. Vanguard Group Inc. now owns 343,463 shares of the company’s stock worth $2,779,000 after buying an additional 3,445 shares during the last quarter. Citizens Financial Group Inc. RI grew its position in CervoMed by 23.0% during the 4th quarter. Citizens Financial Group Inc. RI now owns 37,477 shares of the company’s stock worth $296,000 after acquiring an additional 7,000 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of CervoMed in the fourth quarter valued at $81,000. Institutional investors 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.