CervoMed (NASDAQ:CRVO) Stock Rating Upgraded by Zacks Research

CervoMed (NASDAQ:CRVO) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

CRVO has been the topic of a number of other research reports. Roth Capital set a $20.00 price objective on shares of CervoMed and gave the stock a “buy” rating in a research report on Friday, October 17th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of CervoMed in a research note on Thursday, December 18th. D. Boral Capital restated a “buy” rating and set a $31.00 price objective on shares of CervoMed in a report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CervoMed in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald assumed coverage on shares of CervoMed in a research report on Thursday, December 18th. They issued an “overweight” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.86.

CervoMed Stock Down 2.3%

CRVO traded down $0.18 during trading on Monday, hitting $7.36. The company’s stock had a trading volume of 12,270 shares, compared to its average volume of 37,679. CervoMed has a twelve month low of $1.92 and a twelve month high of $16.94. The stock’s fifty day moving average price is $8.21 and its 200-day moving average price is $8.26. The firm has a market capitalization of $68.12 million, a P/E ratio of -2.54 and a beta of -0.89.

CervoMed (NASDAQ:CRVO) last announced its quarterly earnings data on Friday, November 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate 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 company had revenue of $0.32 million for the quarter, compared to analyst estimates of $1.43 million. Equities research analysts expect that CervoMed will post -1.88 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO John J. Alam acquired 10,793 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average price of $8.46 per share, with a total value of $91,308.78. Following the acquisition, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Matthew Winton purchased 3,500 shares of the stock in a transaction dated Monday, November 17th. The stock was purchased at an average cost of $8.43 per share, for a total transaction of $29,505.00. Following the completion of the acquisition, the insider owned 13,500 shares of the company’s stock, valued at approximately $113,805. This represents a 35.00% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders bought 92,000 shares of company stock valued at $737,723. 35.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CRVO. Byrne Asset Management LLC bought a new position in shares of CervoMed during the fourth quarter valued at about $116,000. Citadel Advisors LLC purchased a new position in CervoMed during the 3rd quarter valued at $247,000. Two Sigma Investments LP bought a new position in CervoMed in the 3rd quarter worth $138,000. Readystate Asset Management LP purchased a new stake in shares of CervoMed in the 3rd quarter worth about $118,000. Finally, GSA Capital Partners LLP bought a new stake in shares of CervoMed during the 3rd quarter valued at about $91,000. 25.15% of the stock is currently owned by institutional investors.

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. 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.