CervoMed Inc. (NASDAQ:CRVO) Short Interest Update

CervoMed Inc. (NASDAQ:CRVO) was the recipient of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 296,365 shares, a growth of 17.9% from the February 12th total of 251,455 shares. Based on an average trading volume of 99,856 shares, the short-interest ratio is currently 3.0 days. Currently, 5.0% of the shares of the company are sold short. Currently, 5.0% of the shares of the company are sold short. Based on an average trading volume of 99,856 shares, the short-interest ratio is currently 3.0 days.

CervoMed Stock Up 1.4%

CRVO stock traded up $0.06 during trading on Monday, reaching $4.31. 90,914 shares of the company’s stock were exchanged, compared to its average volume of 92,857. CervoMed has a 1-year low of $3.58 and a 1-year high of $16.94. The firm has a market cap of $39.87 million, a PE ratio of -1.45 and a beta of -0.77. The company’s fifty day moving average price is $5.49 and its 200-day moving average price is $7.30.

CervoMed (NASDAQ:CRVO) last issued its quarterly earnings results on Friday, March 13th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.09). CervoMed had a negative net margin of 672.80% and a negative return on equity of 85.98%. The business had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.84 million. As a group, sell-side analysts expect that CervoMed will post -1.88 earnings per share for the current fiscal year.

Institutional Trading of CervoMed

Hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in shares of CervoMed in the 4th quarter worth approximately $81,000. State Street Corp increased its stake in shares of CervoMed by 11.4% during the fourth quarter. State Street Corp now owns 20,527 shares of the company’s stock valued at $162,000 after acquiring an additional 2,100 shares during the period. Jane Street Group LLC bought a new stake in CervoMed during the fourth quarter worth approximately $88,000. HRT Financial LP bought a new stake in CervoMed during the fourth quarter worth approximately $113,000. Finally, Dimensional Fund Advisors LP acquired a new stake in CervoMed in the fourth quarter worth approximately $110,000. 25.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on CRVO shares. Chardan Capital reaffirmed a “buy” rating and set a $15.00 target price on shares of CervoMed in a report on Thursday, March 5th. Weiss Ratings restated a “sell (d-)” rating on shares of CervoMed in a research note on Wednesday, January 21st. Zacks Research raised CervoMed from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Cantor Fitzgerald started coverage on shares of CervoMed in a report on Thursday, December 18th. They set an “overweight” rating for the company. Finally, HC Wainwright restated a “buy” rating and set a $25.00 price target on shares of CervoMed in a research report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.60.

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. 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.