CervoMed (NASDAQ:CRVO) Director Buys $33,396.97 in Stock

CervoMed Inc. (NASDAQ:CRVO) Director Sylvie Gregoire acquired 4,447 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was purchased at an average price of $7.51 per share, for a total transaction of $33,396.97. Following the acquisition, the director directly owned 1,471,578 shares in the company, valued at $11,051,550.78. This represents a 0.30% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Sylvie Gregoire also recently made the following trade(s):

• On Monday, November 17th, Sylvie Gregoire bought 10,807 shares of CervoMed stock. The shares were acquired at an average cost of $8.46 per share, with a total value of $91,427.22.
• On Monday, November 17th, Sylvie Gregoire bought 10,793 shares of CervoMed stock. The stock was acquired at an average price of $8.46 per share, with a total value of $91,308.78.
• On Friday, November 14th, Sylvie Gregoire purchased 1,693 shares of CervoMed stock. The stock was acquired at an average cost of $7.55 per share, for a total transaction of $12,782.15.
• On Friday, November 14th, Sylvie Gregoire purchased 1,707 shares of CervoMed stock. The shares were acquired at an average price of $7.57 per share, for a total transaction of $12,921.99.
• On Wednesday, November 12th, Sylvie Gregoire acquired 5,553 shares of CervoMed stock. The shares were acquired at an average cost of $7.35 per share, with a total value of $40,814.55.

CervoMed Trading Up 3.7%

CRVO stock opened at $8.61 on Thursday. The firm has a 50-day moving average of $7.79 and a two-hundred day moving average of $8.12. CervoMed Inc. has a 12 month low of $1.80 and a 12 month high of $16.94. The company has a market cap of $79.67 million, a price-to-earnings ratio of -3.30 and a beta of -0.89.

CervoMed (NASDAQ:CRVO) last issued its earnings results on Friday, November 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.16). CervoMed had a negative return on equity of 59.15% and a negative net margin of 290.72%.The company had revenue of $0.32 million for the quarter, compared to analyst estimates of $1.43 million. As a group, equities analysts forecast that CervoMed Inc. will post -1.88 earnings per share for the current year.

Institutional Trading of CervoMed

Hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers lifted its position 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 buying an additional 1,526 shares during the last quarter. Thompson Davis & CO. Inc. raised its stake in shares of CervoMed by 20.8% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 16,850 shares of the company’s stock valued at $136,000 after acquiring an additional 2,900 shares during the period. Vanguard Group Inc. lifted its holdings in shares of CervoMed by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 343,463 shares of the company’s stock worth $2,779,000 after acquiring an additional 3,445 shares during the last quarter. Citizens Financial Group Inc. RI boosted its position in shares of CervoMed by 14.2% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 30,477 shares of the company’s stock worth $247,000 after purchasing an additional 3,800 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in shares of CervoMed during the 3rd quarter worth approximately $91,000. 25.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on CRVO shares. Canaccord Genuity Group raised their target price on CervoMed from $21.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Chardan Capital reissued a “buy” rating and issued a $15.00 price objective on shares of CervoMed in a report on Monday, August 11th. D. Boral Capital restated a “buy” rating and set a $31.00 price objective on shares of CervoMed in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CervoMed in a research note on Wednesday, October 8th. Finally, Zacks Research cut shares of CervoMed from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.86.

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.