CervoMed (NASDAQ:CRVO) Given Buy Rating at HC Wainwright

CervoMed (NASDAQ:CRVO)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a report released on Wednesday,Benzinga reports.

Several other equities analysts also recently issued reports on CRVO. Chardan Capital upgraded CervoMed to a “strong-buy” rating in a research report on Monday, August 3rd. Weiss Ratings cut CervoMed from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 31st. Roth Capital set a $9.00 target price on CervoMed in a research note on Monday, May 18th. Finally, D. Boral Capital reiterated a “buy” rating and set a $31.00 price target on shares of CervoMed in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, CervoMed presently has an average rating of “Moderate Buy” and a consensus price target of $21.50.

CervoMed Stock Up 8.0%

Shares of NASDAQ:CRVO opened at $3.09 on Wednesday. The company has a market cap of $46.72 million, a PE ratio of -0.96 and a beta of -0.63. The company’s 50-day moving average price is $3.12 and its 200 day moving average price is $3.80. CervoMed has a fifty-two week low of $2.13 and a fifty-two week high of $11.25.

CervoMed (NASDAQ:CRVO) last posted its earnings results on Friday, August 7th. The company reported ($0.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.22. CervoMed had a negative net margin of 672.80% and a negative return on equity of 166.00%. As a group, equities analysts anticipate that CervoMed will post -2.84 EPS for the current year.

Insiders Place Their Bets

In other CervoMed news, Director Joshua S. Boger purchased 955,414 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were purchased at an average price of $3.14 per share, for a total transaction of $2,999,999.96. Following the completion of the transaction, the director owned 1,795,865 shares in the company, valued at $5,639,016.10. This represents a 113.68% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 35.80% of the company’s stock.

Institutional Investors Weigh In On CervoMed

Large investors have recently modified their holdings of the stock. State Street Corp raised its position in shares of CervoMed by 11.4% during the fourth quarter. State Street Corp now owns 20,527 shares of the company’s stock worth $162,000 after purchasing an additional 2,100 shares during the period. Jane Street Group LLC purchased a new stake in shares of CervoMed during the fourth quarter valued at $88,000. HRT Financial LP acquired a new position in shares of CervoMed in the 4th quarter valued at $113,000. Dimensional Fund Advisors LP purchased a new position in CervoMed in the 4th quarter worth about $110,000. Finally, Two Sigma Investments LP purchased a new position in CervoMed in the 3rd quarter worth about $138,000. 25.15% of the stock is owned by institutional investors.

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.