Thompson Davis & CO. Inc. Invests $91,000 in CervoMed Inc. $CRVO

Thompson Davis & CO. Inc. acquired a new stake in CervoMed Inc. (NASDAQ:CRVO) in the second quarter, Holdings Channel.com reports. The firm acquired 14,400 shares of the company’s stock, valued at approximately $91,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp bought a new position in CervoMed in the 1st quarter valued at $110,000. Avantax Advisory Services Inc. bought a new position in shares of CervoMed in the first quarter worth $238,000. Citizens Financial Group Inc. RI purchased a new stake in shares of CervoMed in the first quarter worth $244,000. Nuveen LLC bought a new stake in CervoMed during the first quarter valued at $312,000. Finally, HighTower Advisors LLC bought a new stake in CervoMed during the first quarter valued at $104,000. Institutional investors own 25.15% of the company’s stock.

Wall Street Analyst Weigh In

CRVO has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of CervoMed in a research report on Wednesday, October 8th. D. Boral Capital reaffirmed a “buy” rating and issued a $31.00 target price on shares of CervoMed in a research note on Tuesday. HC Wainwright raised shares of CervoMed from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $11.00 to $25.00 in a research note on Wednesday, November 5th. Chardan Capital reissued a “buy” rating and issued a $15.00 price target on shares of CervoMed in a report on Monday, August 11th. Finally, Roth Capital set a $20.00 price objective on shares of CervoMed and gave the stock a “buy” rating in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, CervoMed currently has an average rating of “Moderate Buy” and an average target price of $21.86.

CervoMed Price Performance

Shares of CRVO stock opened at $7.25 on Friday. The business has a 50-day moving average of $7.94 and a 200 day moving average of $8.17. CervoMed Inc. has a 1-year low of $1.80 and a 1-year high of $16.94. The stock has a market capitalization of $67.08 million, a PE ratio of -2.78 and a beta of -0.89.

CervoMed (NASDAQ:CRVO) last released its quarterly earnings data on Friday, November 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.16). The firm had revenue of $0.32 million during the quarter, compared to analysts’ expectations of $1.43 million. CervoMed had a negative net margin of 290.72% and a negative return on equity of 59.15%. Analysts anticipate that CervoMed Inc. will post -1.88 EPS for the current year.

Insider Buying and Selling at CervoMed

In other CervoMed news, CFO William Robert Elder bought 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was bought at an average price of $7.44 per share, for a total transaction of $26,040.00. Following the completion of the acquisition, the chief financial officer directly owned 9,000 shares in the company, valued at $66,960. The trade was a 63.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John J. Alam acquired 5,553 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was bought at an average price of $7.35 per share, with a total value of $40,814.55. Following the completion of the acquisition, the chief executive officer directly owned 1,467,131 shares in the company, valued at approximately $10,783,412.85. This represents a 0.38% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 14,606 shares of company stock valued at $107,669 in the last 90 days. Insiders own 35.40% 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.