CervoMed’s (CRVO) “Buy” Rating Reiterated at D. Boral Capital

D. Boral Capital reissued their buy rating on shares of CervoMed (NASDAQ:CRVO) in a report published on Wednesday,Benzinga reports. They currently have a $31.00 price objective on the stock.

Other equities analysts also recently issued research reports about the stock. Brookline Capital Acquisition raised shares of CervoMed to a “strong-buy” rating in a report on Tuesday, February 3rd. HC Wainwright restated a “buy” rating and set a $25.00 target price 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. Weiss Ratings reissued a “sell (d-)” rating on shares of CervoMed in a report on Wednesday, January 21st. Finally, Cantor Fitzgerald assumed coverage on CervoMed in a research report on Thursday, December 18th. They issued an “overweight” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, CervoMed currently has an average rating of “Moderate Buy” and an average price target of $22.17.

CervoMed Stock Down 11.5%

NASDAQ CRVO opened at $4.63 on Wednesday. CervoMed has a 52 week low of $1.92 and a 52 week high of $16.94. The company has a market capitalization of $42.83 million, a P/E ratio of -1.60 and a beta of -0.82. The stock’s 50-day moving average price is $6.61 and its 200-day moving average price is $7.88.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CRVO. Rhumbline Advisers increased its holdings in shares of CervoMed by 35.5% in 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 last quarter. Marshall Wace LLP bought a new position in CervoMed during the second quarter valued at approximately $76,000. XTX Topco Ltd purchased a new position in CervoMed during the 4th quarter valued at approximately $81,000. Thompson Davis & CO. Inc. bought a new stake in CervoMed in the 2nd quarter worth approximately $88,000. Finally, Jane Street Group LLC purchased a new stake in shares of CervoMed during the 4th quarter worth approximately $88,000. Institutional investors own 25.15% of the company’s stock.

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.