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

Shares of CervoMed Inc. (NASDAQ:CRVO) have been given a consensus rating of “Moderate Buy” by the eight brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $22.60.

CRVO has been the topic of several research analyst reports. D. Boral Capital reissued a “buy” rating and issued a $31.00 price objective on shares of CervoMed in a research report on Wednesday, April 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CervoMed in a research report on Monday, April 20th. HC Wainwright reiterated a “buy” rating on shares of CervoMed in a research note on Wednesday, July 15th. Finally, Roth Capital set a $9.00 price target on shares of CervoMed in a report on Monday, May 18th.

CervoMed Price Performance

CervoMed stock opened at $3.08 on Monday. CervoMed has a 52 week low of $2.13 and a 52 week high of $13.13. The company’s 50 day moving average price is $3.30 and its two-hundred day moving average price is $4.37. The stock has a market cap of $41.67 million, a P/E ratio of -0.94 and a beta of -0.68.

CervoMed (NASDAQ:CRVO) last released its earnings results on Friday, May 15th. The company reported ($0.86) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.04. CervoMed had a negative return on equity of 136.08% and a negative net margin of 672.80%. On average, equities analysts anticipate that CervoMed will post -2.84 EPS for the current year.

Insider Buying and Selling

In related news, Director Joshua S. Boger acquired 955,414 shares of the stock in a transaction on Thursday, June 11th. The shares were acquired at an average price of $3.14 per share, with a total value of $2,999,999.96. Following the completion of the transaction, the director owned 1,795,865 shares in the company, valued at approximately $5,639,016.10. The trade was a 113.68% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 35.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Rhumbline Advisers raised 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 worth $53,000 after purchasing an additional 1,526 shares during the period. XTX Topco Ltd bought a new stake in shares of CervoMed in the fourth quarter valued at $81,000. Jane Street Group LLC bought a new stake in shares of CervoMed in the fourth quarter valued at $88,000. Marshall Wace LLP bought a new stake in shares of CervoMed in the second quarter valued at $76,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of CervoMed during the 4th quarter valued at $110,000. 25.15% of the stock is owned by institutional investors.

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.