CervoMed Inc. (NASDAQ:CRVO) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of CervoMed Inc. (NASDAQ:CRVO) have earned an average rating of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $21.00.

Several research analysts have recently issued reports on CRVO shares. Chardan Capital upgraded CervoMed to a “strong-buy” rating in a research report on Monday, August 3rd. Wall Street Zen upgraded CervoMed from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Roth Capital set a $7.00 target price on CervoMed in a research note on Thursday. HC Wainwright restated a “buy” rating on shares of CervoMed in a report on Wednesday, August 12th. Finally, Weiss Ratings upgraded CervoMed from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 13th.

Insider Buying and Selling at CervoMed

In other news, Director Joshua S. Boger purchased 955,414 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average cost of $3.14 per share, for a total transaction of $2,999,999.96. Following the transaction, the director directly owned 1,795,865 shares of the company’s stock, valued at approximately $5,639,016.10. The trade was a 113.68% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 35.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CervoMed

Several large investors have recently bought and sold shares of the company. Rhumbline Advisers grew its holdings in shares of CervoMed by 35.5% in the 1st 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 period. State Street Corp raised its stake in CervoMed by 11.4% during the 4th quarter. State Street Corp now owns 20,527 shares of the company’s stock worth $162,000 after buying an additional 2,100 shares during the period. Vanguard Group Inc. raised its stake in CervoMed by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 343,463 shares of the company’s stock worth $2,779,000 after buying an additional 3,445 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in CervoMed by 23.0% during the fourth quarter. Citizens Financial Group Inc. RI now owns 37,477 shares of the company’s stock worth $296,000 after acquiring an additional 7,000 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in CervoMed during the fourth quarter worth about $81,000. Institutional investors own 25.15% of the company’s stock.

CervoMed Price Performance

CRVO opened at $2.56 on Friday. The firm has a 50 day simple moving average of $3.11 and a 200 day simple moving average of $3.65. CervoMed has a fifty-two week low of $2.13 and a fifty-two week high of $10.89. The company has a market cap of $38.71 million, a price-to-earnings ratio of -0.80 and a beta of -0.63.

CervoMed (NASDAQ:CRVO) last released its earnings results on Friday, August 7th. The company reported ($0.64) EPS for the quarter, topping 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 156.02%. As a group, analysts expect that CervoMed will post -2.32 EPS for the current year.

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.