CervoMed (NASDAQ:CRVO) Insider Acquires $75,700.00 in Stock

CervoMed Inc. (NASDAQ:CRVO) insider Matthew Winton purchased 10,000 shares of the company’s stock in a transaction on Friday, November 14th. The stock was bought at an average cost of $7.57 per share, for a total transaction of $75,700.00. Following the acquisition, the insider directly owned 10,000 shares of the company’s stock, valued at $75,700. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Tuesday, November 18th, Matthew Winton purchased 1,500 shares of CervoMed stock. The stock was bought at an average price of $7.95 per share, with a total value of $11,925.00.
• On Monday, November 17th, Matthew Winton bought 3,500 shares of CervoMed stock. The stock was purchased at an average price of $8.43 per share, with a total value of $29,505.00.

CervoMed Stock Performance

CervoMed stock opened at $8.61 on Thursday. The company has a 50 day moving average price of $7.79 and a 200 day moving average price of $8.12. CervoMed Inc. has a 52 week low of $1.80 and a 52 week high of $16.94. The firm has a market capitalization of $79.67 million, a price-to-earnings ratio of -3.30 and a beta of -0.89.

CervoMed (NASDAQ:CRVO) last released its earnings results 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). CervoMed had a negative net margin of 290.72% and a negative return on equity of 59.15%. The business had revenue of $0.32 million during the quarter, compared to analysts’ expectations of $1.43 million. Equities analysts forecast that CervoMed Inc. will post -1.88 earnings per share for the current fiscal year.

Institutional Trading of CervoMed

A number of institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers increased its stake in shares of CervoMed by 35.5% during the 1st quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock worth $53,000 after purchasing an additional 1,526 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of CervoMed in the 2nd quarter valued at $76,000. Thompson Davis & CO. Inc. acquired a new position in CervoMed during the second quarter worth $88,000. GSA Capital Partners LLP acquired a new position in CervoMed during the third quarter worth $91,000. Finally, HighTower Advisors LLC bought a new position in CervoMed during the first quarter valued at about $104,000. 25.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CRVO shares. HC Wainwright upgraded CervoMed from a “neutral” rating to a “buy” rating and upped their target price for the company from $11.00 to $25.00 in a report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of CervoMed in a research note on Wednesday, October 8th. Chardan Capital reiterated a “buy” rating and issued a $15.00 target price on shares of CervoMed in a research report on Monday, August 11th. Canaccord Genuity Group boosted their price target on shares of CervoMed from $21.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Finally, Roth Capital set a $20.00 price target on shares of CervoMed and gave the stock a “buy” rating in a research note on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, CervoMed currently has an average rating of “Moderate Buy” and an average 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.