CervoMed (NASDAQ:CRVO) Rating Increased to Strong-Buy at Brookline Capital Management

Brookline Capital Management upgraded shares of CervoMed (NASDAQ:CRVO) to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

A number of other research analysts have also commented on CRVO. D. Boral Capital restated a “buy” rating and issued a $31.00 target price 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. HC Wainwright restated a “buy” rating and issued a $25.00 price objective on shares of CervoMed in a research note on Thursday, December 18th. Zacks Research raised shares of CervoMed from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Cantor Fitzgerald started coverage on shares of CervoMed in a research report on Thursday, December 18th. They set an “overweight” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, CervoMed presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.17.

CervoMed Trading Down 3.3%

Shares of CervoMed stock opened at $4.67 on Tuesday. The company’s fifty day simple moving average is $7.55 and its 200-day simple moving average is $8.18. The company has a market cap of $43.20 million, a price-to-earnings ratio of -1.61 and a beta of -0.82. CervoMed has a 1 year low of $1.92 and a 1 year high of $16.94.

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

Insider Activity

In other news, CEO John J. Alam bought 10,793 shares of CervoMed stock in a transaction dated Monday, November 17th. The shares were bought at an average price of $8.46 per share, for a total transaction of $91,308.78. Following the purchase, the chief executive officer owned 12,500 shares of the company’s stock, valued at approximately $105,750. This trade represents a 632.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sylvie Gregoire bought 10,807 shares of the stock in a transaction dated Monday, November 17th. The stock was purchased at an average cost of $8.46 per share, for a total transaction of $91,427.22. Following the acquisition, the director owned 12,500 shares in the company, valued at $105,750. The trade was a 638.33% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have bought 92,000 shares of company stock worth $737,723. Corporate insiders own 35.40% of the company’s stock.

Institutional Trading of CervoMed

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of CervoMed by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 343,463 shares of the company’s stock worth $2,779,000 after acquiring an additional 3,445 shares in the last quarter. Jane Street Group LLC acquired a new stake in CervoMed during the 2nd quarter valued at $414,000. Citizens Financial Group Inc. RI raised its position in CervoMed by 23.0% in the 4th quarter. Citizens Financial Group Inc. RI now owns 37,477 shares of the company’s stock valued at $296,000 after purchasing an additional 7,000 shares during the last quarter. Citadel Advisors LLC acquired a new position in CervoMed in the third quarter worth $247,000. Finally, Perigon Wealth Management LLC boosted its stake in CervoMed by 66.0% in the third quarter. Perigon Wealth Management LLC now owns 28,731 shares of the company’s stock worth $232,000 after purchasing an additional 11,425 shares in the last quarter. Institutional investors and hedge funds own 25.15% of the company’s stock.

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.