CervoMed’s (CRVO) “Buy” Rating Reiterated at Chardan Capital

CervoMed (NASDAQ:CRVO)‘s stock had its “buy” rating reiterated by Chardan Capital in a research note issued on Thursday,Benzinga reports. They currently have a $15.00 price target on the stock. Chardan Capital’s price target would indicate a potential upside of 273.13% from the stock’s current price.

A number of other research analysts have also recently commented on the company. HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of CervoMed in a research note on Thursday, December 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of CervoMed in a report on Wednesday, January 21st. D. Boral Capital restated a “buy” rating and issued a $31.00 price target on shares of CervoMed in a report on Wednesday. Brookline Capital Acquisition raised shares of CervoMed to a “strong-buy” rating in a research report on Tuesday, February 3rd. Finally, Zacks Research raised shares of CervoMed from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.17.

CervoMed Stock Up 0.2%

CervoMed stock opened at $4.02 on Thursday. The firm has a fifty day moving average of $5.99 and a 200-day moving average of $7.56. CervoMed has a 52-week low of $1.92 and a 52-week high of $16.94. The firm has a market capitalization of $37.19 million, a P/E ratio of -1.39 and a beta of -0.77.

Hedge Funds Weigh In On CervoMed

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in CervoMed by 1.0% in the third quarter. Vanguard Group Inc. now owns 343,463 shares of the company’s stock valued at $2,779,000 after buying an additional 3,445 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of CervoMed by 8,425,900.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 84,260 shares of the company’s stock valued at $666,000 after acquiring an additional 84,259 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of CervoMed during the 2nd quarter valued at approximately $414,000. Citizens Financial Group Inc. RI lifted its stake 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 purchasing an additional 7,000 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new position in CervoMed in the third quarter worth $247,000. 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. 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.