CervoMed (NASDAQ:CRVO) CEO John Alam Buys 5,553 Shares

CervoMed Inc. (NASDAQ:CRVO) CEO John Alam bought 5,553 shares of CervoMed stock in a transaction dated Wednesday, November 12th. The stock was acquired at an average price of $7.35 per share, for a total transaction of $40,814.55. Following the completion of the acquisition, the chief executive officer owned 1,467,131 shares in the company, valued at approximately $10,783,412.85. The trade was a 0.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

CervoMed Trading Up 4.1%

Shares of NASDAQ CRVO traded up $0.30 during mid-day trading on Friday, reaching $7.55. The company had a trading volume of 42,120 shares, compared to its average volume of 1,502,431. The business’s 50-day moving average is $7.94 and its 200-day moving average is $8.17. CervoMed Inc. has a 52 week low of $1.80 and a 52 week high of $16.94. The stock has a market cap of $69.86 million, a price-to-earnings ratio of -2.89 and a beta of -0.89.

CervoMed (NASDAQ:CRVO) last released its earnings results on Friday, November 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.16). The company had revenue of $0.32 million during the quarter, compared to analyst estimates of $1.43 million. CervoMed had a negative return on equity of 59.15% and a negative net margin of 290.72%. As a group, equities research analysts forecast that CervoMed Inc. will post -1.88 earnings per share for the current year.

Institutional Trading of CervoMed

Several large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its holdings in shares of CervoMed by 35.5% during the first 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. GSA Capital Partners LLP acquired a new position in CervoMed during the 3rd quarter valued at about $91,000. HighTower Advisors LLC bought a new stake in shares of CervoMed in the first quarter worth about $104,000. Marshall Wace LLP bought a new stake in CervoMed in the 2nd quarter valued at $76,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of CervoMed during the 1st quarter worth about $110,000. 25.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CRVO shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CervoMed in a report on Wednesday, October 8th. D. Boral Capital restated a “buy” rating and issued a $31.00 target price on shares of CervoMed in a research report on Tuesday. Canaccord Genuity Group increased their target price on CervoMed from $21.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Zacks Research cut CervoMed from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Finally, Roth Capital set a $20.00 target price on shares of CervoMed and gave the stock a “buy” rating in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, CervoMed has an average rating of “Moderate Buy” and a consensus target price of $21.86.

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.