CervoMed (NASDAQ:CRVO) Insider Acquires $29,505.00 in Stock

CervoMed Inc. (NASDAQ:CRVO) insider Matthew Winton acquired 3,500 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average cost of $8.43 per share, with a total value of $29,505.00. Following the transaction, the insider owned 13,500 shares in the company, valued at approximately $113,805. The trade was a 35.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Matthew Winton also recently made the following trade(s):

• On Tuesday, November 18th, Matthew Winton bought 1,500 shares of CervoMed stock. The shares were bought at an average cost of $7.95 per share, with a total value of $11,925.00.
• On Friday, November 14th, Matthew Winton acquired 10,000 shares of CervoMed stock. The shares were bought at an average price of $7.57 per share, with a total value of $75,700.00.

CervoMed Price Performance

Shares of NASDAQ CRVO opened at $8.78 on Wednesday. The business’s fifty day moving average price is $7.81 and its two-hundred day moving average price is $8.11. The firm has a market capitalization of $81.20 million, a PE ratio of -3.36 and a beta of -0.89. CervoMed Inc. has a 1-year low of $1.80 and a 1-year high of $16.94.

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

Institutional Trading of CervoMed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRVO. Citadel Advisors LLC acquired a new position in shares of CervoMed during the third quarter worth approximately $247,000. Two Sigma Investments LP acquired a new stake in CervoMed during the third quarter worth about $138,000. Readystate Asset Management LP bought a new stake in shares of CervoMed in the 3rd quarter worth approximately $118,000. GSA Capital Partners LLP bought a new stake in shares of CervoMed during the third quarter valued at approximately $91,000. Finally, Vanguard Group Inc. lifted its position in CervoMed by 1.0% in the third quarter. Vanguard Group Inc. now owns 343,463 shares of the company’s stock worth $2,779,000 after purchasing an additional 3,445 shares during the period. Institutional investors and hedge funds own 25.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. D. Boral Capital reaffirmed a “buy” rating and set a $31.00 target price on shares of CervoMed in a report on Tuesday, November 11th. Zacks Research cut shares of CervoMed from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. HC Wainwright raised CervoMed from a “neutral” rating to a “buy” rating and raised their target price for the stock from $11.00 to $25.00 in a research report on Wednesday, November 5th. Chardan Capital reissued a “buy” rating and set a $15.00 price target on shares of CervoMed in a research report on Monday, August 11th. Finally, Canaccord Genuity Group upped their target price on CervoMed from $21.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus 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.