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

Shares of CervoMed Inc. (NASDAQ:CRVO) have earned an average rating of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $22.60.

A number of research analysts have commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of CervoMed in a research note on Monday, April 20th. upgraded CervoMed to a “strong-buy” rating in a research note on Tuesday, February 3rd. D. Boral Capital restated a “buy” rating and set a $31.00 price objective on shares of CervoMed in a research note on Wednesday, April 22nd. HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of CervoMed in a research note on Thursday, April 23rd. Finally, Roth Mkm set a $9.00 price objective on CervoMed in a research note on Monday, May 18th.

Institutional Investors Weigh In On CervoMed

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC acquired a new position in shares of CervoMed during the 1st quarter worth about $227,000. Rhumbline Advisers grew its stake in 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 buying an additional 1,526 shares during the last quarter. Marshall Wace LLP acquired a new position in CervoMed in the 2nd quarter valued at about $76,000. Jane Street Group LLC acquired a new position in CervoMed in the 2nd quarter valued at about $414,000. Finally, Thompson Davis & CO. Inc. grew its stake in CervoMed by 20.8% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 16,850 shares of the company’s stock valued at $136,000 after buying an additional 2,900 shares during the last quarter. 25.15% of the stock is owned by institutional investors.

CervoMed Price Performance

NASDAQ:CRVO opened at $3.11 on Friday. The business’s 50-day moving average is $3.73 and its two-hundred day moving average is $5.65. The firm has a market capitalization of $28.80 million, a PE ratio of -0.95 and a beta of -0.63. CervoMed has a 12 month low of $2.82 and a 12 month high of $13.13.

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

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.