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

Shares of CervoMed Inc. (NASDAQ:CRVO) have been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $22.1667.

A number of analysts have commented on the stock. D. Boral Capital restated a “buy” rating and set a $31.00 price target on shares of CervoMed in a research note on Tuesday, December 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of CervoMed in a report on Wednesday, January 21st. Cantor Fitzgerald began coverage on shares of CervoMed in a research report on Thursday, December 18th. They set an “overweight” rating for the company. Roth Mkm set a $20.00 target price on CervoMed and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, Zacks Research raised shares of CervoMed from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th.

Insider Transactions at CervoMed

In other CervoMed news, CEO John J. Alam acquired 10,807 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was bought at an average price of $8.46 per share, with a total value of $91,427.22. Following the completion of the purchase, the chief executive officer owned 1,484,078 shares of the company’s stock, valued at approximately $12,555,299.88. This represents a 0.73% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Matthew Winton purchased 10,000 shares of the stock in a transaction on Friday, November 14th. The stock was acquired at an average cost of $7.57 per share, for a total transaction of $75,700.00. Following the acquisition, the insider owned 10,000 shares in the company, valued at approximately $75,700. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have bought 92,000 shares of company stock valued at $737,723. 35.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CervoMed

Institutional investors have recently made changes to their positions in the business. Rhumbline Advisers lifted its stake 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 acquiring an additional 1,526 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of CervoMed in the 2nd quarter worth about $76,000. Thompson Davis & CO. Inc. bought a new position in shares of CervoMed in the 2nd quarter worth approximately $88,000. GSA Capital Partners LLP bought a new position in CervoMed in the third quarter worth $91,000. Finally, Byrne Asset Management LLC bought a new position in shares of CervoMed in the 4th quarter worth about $116,000. Hedge funds and other institutional investors own 25.15% of the company’s stock.

CervoMed Price Performance

Shares of CRVO stock opened at $5.15 on Monday. The stock has a market capitalization of $47.65 million, a PE ratio of -1.78 and a beta of -0.89. The business’s 50 day simple moving average is $7.84 and its 200 day simple moving average is $8.23. CervoMed has a one year low of $1.92 and a one year high of $16.94.

CervoMed (NASDAQ:CRVO) last announced its earnings results on Friday, November 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.16). The business had revenue of $0.32 million for the quarter, compared to the consensus estimate of $1.43 million. CervoMed had a negative net margin of 415.27% and a negative return on equity of 76.78%. As a group, research analysts expect that CervoMed will post -1.88 earnings per share for the current 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.