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

Shares of CervoMed Inc. (NASDAQ:CRVO) have received an average rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $21.50.

Several research analysts have recently issued reports on the company. Chardan Capital raised CervoMed to a “strong-buy” rating in a report on Monday, August 3rd. Roth Capital set a $9.00 price objective on shares of CervoMed in a report on Monday, May 18th. D. Boral Capital reiterated a “buy” rating and issued a $31.00 target price on shares of CervoMed in a research report on Wednesday, April 22nd. HC Wainwright reissued a “buy” rating on shares of CervoMed in a research note on Wednesday. Finally, Weiss Ratings cut shares of CervoMed from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 31st.

Insider Activity at CervoMed

In other news, Director Joshua S. Boger purchased 955,414 shares of the stock in a transaction dated Thursday, June 11th. The shares were bought at an average cost of $3.14 per share, for a total transaction of $2,999,999.96. Following the transaction, the director owned 1,795,865 shares in the company, valued at $5,639,016.10. This trade represents a 113.68% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 35.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CervoMed

A number of institutional investors and hedge funds have recently modified their holdings of CRVO. Citizens Financial Group Inc. RI acquired a new position in shares of CervoMed in the second quarter worth about $116,000. BlackRock Inc. acquired a new stake in shares of CervoMed during the second quarter valued at approximately $167,000. Byrne Asset Management LLC raised its holdings in shares of CervoMed by 248.6% during the second quarter. Byrne Asset Management LLC now owns 51,250 shares of the company’s stock valued at $159,000 after acquiring an additional 36,550 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of CervoMed in the 1st quarter valued at approximately $252,000. Finally, XTX Topco Ltd purchased a new stake in shares of CervoMed in the 4th quarter valued at approximately $81,000. Institutional investors and hedge funds own 25.15% of the company’s stock.

CervoMed Price Performance

CervoMed stock opened at $2.93 on Friday. The company has a market cap of $44.30 million, a PE ratio of -0.91 and a beta of -0.63. The company has a fifty day moving average price of $3.12 and a two-hundred day moving average price of $3.75. CervoMed has a 12 month low of $2.13 and a 12 month high of $11.25.

CervoMed (NASDAQ:CRVO) last issued its earnings results on Friday, August 7th. The company reported ($0.64) earnings per share (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 166.00%. Equities research analysts anticipate that CervoMed will post -2.5 earnings per share 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.