CervoMed Inc. (NASDAQ:CRVO) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of CervoMed Inc. (NASDAQ:CRVO) have been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $22.60.

Several equities research analysts have recently issued reports on the company. Roth Mkm set a $9.00 price objective on CervoMed in a report on Monday, May 18th. D. Boral Capital restated a “buy” rating and set a $31.00 price objective on shares of CervoMed in a report on Wednesday, April 22nd. Chardan Capital raised their price objective on CervoMed from $15.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. upgraded CervoMed to a “strong-buy” rating in a report on Tuesday, February 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of CervoMed in a report on Monday, April 20th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP acquired a new position in CervoMed in the fourth quarter valued at $110,000. Jane Street Group LLC acquired a new position in CervoMed in the fourth quarter valued at $88,000. XTX Topco Ltd acquired a new position in CervoMed in the fourth quarter valued at $81,000. Marshall Wace LLP acquired a new position in CervoMed in the second quarter valued at $76,000. Finally, Rhumbline Advisers boosted its holdings in CervoMed by 35.5% in the first quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock valued at $53,000 after acquiring an additional 1,526 shares during the last quarter. Institutional investors and hedge funds own 25.15% of the company’s stock.

CervoMed Stock Performance

Shares of NASDAQ:CRVO opened at $3.11 on Friday. The business’s fifty day moving average price is $3.73 and its two-hundred day moving average price is $5.65. The stock has a market cap of $28.80 million, a PE ratio of -0.95 and a beta of -0.63. CervoMed has a one year low of $2.82 and a one year high of $13.13.

CervoMed (NASDAQ:CRVO) last announced its earnings results on Monday, May 18th. The company reported ($0.86) EPS for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.04. CervoMed had a negative return on equity of 136.08% and a negative net margin of 672.80%. As a group, equities research analysts predict that CervoMed will post -2.86 earnings per share for the current fiscal year.

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.