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 brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $22.60.

A number of brokerages have issued reports on CRVO. HC Wainwright restated a “buy” rating and set a $25.00 target price on shares of CervoMed in a report on Thursday, April 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of CervoMed in a report on Monday, April 20th. D. Boral Capital restated a “buy” rating and set a $31.00 target price on shares of CervoMed in a report on Wednesday, April 22nd. Chardan Capital raised their target price on CervoMed from $15.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Finally, Roth Mkm set a $9.00 target price on CervoMed in a report on Monday, May 18th.

Insider Buying and Selling at CervoMed

In other CervoMed news, Director Joshua S. Boger acquired 955,414 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were acquired at an average price of $3.14 per share, for a total transaction of $2,999,999.96. Following the acquisition, the director directly owned 1,795,865 shares of the company’s stock, valued at approximately $5,639,016.10. This trade represents a 113.68% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 35.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On CervoMed

Several institutional investors have recently modified their holdings of CRVO. Rhumbline Advisers lifted its holdings in shares of CervoMed by 35.5% during the 1st quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock valued at $53,000 after purchasing an additional 1,526 shares in the last quarter. Marshall Wace LLP bought a new position in shares of CervoMed during the 2nd quarter valued at about $76,000. XTX Topco Ltd bought a new position in shares of CervoMed during the 4th quarter valued at about $81,000. Jane Street Group LLC acquired a new stake in CervoMed in the 4th quarter valued at approximately $88,000. Finally, GSA Capital Partners LLP acquired a new stake in CervoMed in the 3rd quarter valued at approximately $91,000. Institutional investors own 25.15% of the company’s stock.

CervoMed Stock Down 12.4%

Shares of CRVO stock opened at $3.26 on Thursday. The stock has a 50-day moving average price of $3.47 and a 200 day moving average price of $4.96. The firm has a market cap of $35.96 million, a price-to-earnings ratio of -0.99 and a beta of -0.68. CervoMed has a 12 month low of $2.13 and a 12 month high of $13.13.

CervoMed (NASDAQ:CRVO) last issued its earnings results on Friday, May 15th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts predict that CervoMed will post -2.86 earnings per share for the current fiscal year.

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.