CervoMed Inc. (NASDAQ:CRVO) Short Interest Up 17.9% in February

CervoMed Inc. (NASDAQ:CRVO) was the recipient of a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 296,365 shares, an increase of 17.9% from the February 12th total of 251,455 shares. Based on an average daily volume of 99,856 shares, the short-interest ratio is presently 3.0 days. Approximately 5.0% of the shares of the stock are short sold. Approximately 5.0% of the shares of the stock are short sold. Based on an average daily volume of 99,856 shares, the short-interest ratio is presently 3.0 days.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. D. Boral Capital reaffirmed a “buy” rating and issued a $31.00 price target on shares of CervoMed in a report on Monday. Zacks Research upgraded CervoMed from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Brookline Capital Acquisition raised CervoMed to a “strong-buy” rating in a report on Tuesday, February 3rd. Chardan Capital reissued a “buy” rating and set a $15.00 price objective on shares of CervoMed in a report on Thursday, March 5th. Finally, Cantor Fitzgerald initiated coverage on shares of CervoMed in a research report on Thursday, December 18th. They issued an “overweight” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.60.

Hedge Funds Weigh In On CervoMed

A number of large investors have recently bought and sold shares of the stock. Rhumbline Advisers boosted its stake in shares of CervoMed by 35.5% during the first quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock valued at $53,000 after purchasing an additional 1,526 shares during the period. State Street Corp raised its holdings in CervoMed by 11.4% during the 4th 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 during the last quarter. Thompson Davis & CO. Inc. raised its holdings in CervoMed by 20.8% during 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. Vanguard Group Inc. boosted its position in CervoMed by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 343,463 shares of the company’s stock valued at $2,779,000 after buying an additional 3,445 shares during the period. Finally, Citizens Financial Group Inc. RI grew its holdings in CervoMed by 14.2% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 30,477 shares of the company’s stock worth $247,000 after acquiring an additional 3,800 shares during the last quarter. 25.15% of the stock is owned by hedge funds and other institutional investors.

CervoMed Trading Up 4.8%

Shares of CRVO traded up $0.21 during mid-day trading on Tuesday, reaching $4.52. The company’s stock had a trading volume of 86,820 shares, compared to its average volume of 92,732. The stock has a market cap of $41.77 million, a PE ratio of -1.50 and a beta of -0.77. The company’s fifty day moving average price is $5.42 and its two-hundred day moving average price is $7.27. CervoMed has a 52 week low of $3.58 and a 52 week high of $16.94.

CervoMed (NASDAQ:CRVO) last posted its quarterly earnings results on Friday, March 13th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.79) by ($0.09). CervoMed had a negative return on equity of 85.98% and a negative net margin of 672.80%.The business had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.84 million. Research analysts anticipate that CervoMed will post -1.88 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.