CervoMed (NASDAQ:CRVO) Insider Acquires $29,505.00 in Stock

CervoMed Inc. (NASDAQ:CRVO) insider Matthew Winton purchased 3,500 shares of CervoMed stock in a transaction dated Monday, November 17th. The stock was bought at an average cost of $8.43 per share, with a total value of $29,505.00. Following the completion of the transaction, the insider owned 13,500 shares in the company, valued at approximately $113,805. This represents a 35.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

Matthew Winton also recently made the following trade(s):

• On Tuesday, November 18th, Matthew Winton bought 1,500 shares of CervoMed stock. The shares were purchased at an average cost of $7.95 per share, with a total value of $11,925.00.
• On Friday, November 14th, Matthew Winton purchased 10,000 shares of CervoMed stock. The shares were acquired at an average cost of $7.57 per share, for a total transaction of $75,700.00.

CervoMed Price Performance

CervoMed stock opened at $8.88 on Friday. CervoMed Inc. has a 1-year low of $1.80 and a 1-year high of $16.94. The business has a fifty day moving average price of $7.79 and a 200-day moving average price of $8.12. The stock has a market capitalization of $82.17 million, a price-to-earnings ratio of -3.40 and a beta of -0.89.

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

Analyst Ratings Changes

Several analysts have commented on the stock. HC Wainwright upgraded shares of CervoMed from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $11.00 to $25.00 in a research note on Wednesday, November 5th. Canaccord Genuity Group raised their target price on shares of CervoMed from $21.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Zacks Research lowered shares of CervoMed from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Chardan Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of CervoMed in a research report on Monday, August 11th. Finally, D. Boral Capital reissued a “buy” rating and issued a $31.00 price objective on shares of CervoMed in a report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $21.86.

Institutional Investors Weigh In On CervoMed

A number of institutional investors have recently modified their holdings of CRVO. Rhumbline Advisers increased its holdings in CervoMed by 35.5% in the 1st quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock worth $53,000 after acquiring an additional 1,526 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of CervoMed in the third quarter valued at approximately $91,000. HighTower Advisors LLC purchased a new position in shares of CervoMed during the 1st quarter worth $104,000. Marshall Wace LLP acquired a new position in CervoMed in the 2nd quarter valued at about $76,000. Finally, Bank of New York Mellon Corp acquired a new stake in CervoMed during the first quarter worth $110,000. 25.15% of the stock is currently owned by institutional investors and hedge funds.

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.