D. Boral Capital Reiterates Buy Rating for CervoMed (NASDAQ:CRVO)

CervoMed (NASDAQ:CRVO)‘s stock had its “buy” rating reissued by investment analysts at D. Boral Capital in a report issued on Wednesday,Benzinga reports. They presently have a $31.00 price objective on the stock.

CRVO has been the topic of several other reports. Brookline Capital Acquisition upgraded CervoMed to a “strong-buy” rating in a research report on Tuesday, February 3rd. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of CervoMed in a research note on Thursday, December 18th. Cantor Fitzgerald started coverage on shares of CervoMed in a research report on Thursday, December 18th. They issued an “overweight” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of CervoMed in a report on Wednesday, January 21st. Finally, Zacks Research raised shares of CervoMed from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. One equities research 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.17.

CervoMed Stock Up 1.0%

CervoMed stock traded up $0.04 during trading hours on Wednesday, hitting $4.05. 80,540 shares of the company traded hands, compared to its average volume of 87,374. CervoMed has a 1-year low of $1.92 and a 1-year high of $16.94. The firm has a market cap of $37.46 million, a P/E ratio of -1.40 and a beta of -0.77. The firm’s 50-day simple moving average is $6.08 and its two-hundred day simple moving average is $7.59.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. AQR Capital Management LLC purchased a new stake in CervoMed in the 1st quarter worth approximately $227,000. Rhumbline Advisers increased its position in CervoMed by 35.5% in 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. Thompson Davis & CO. Inc. acquired a new stake in shares of CervoMed during the 2nd quarter valued at about $91,000. Marshall Wace LLP bought a new stake in shares of CervoMed in the 2nd quarter valued at approximately $76,000. Finally, Jane Street Group LLC acquired a new position in CervoMed in the second quarter worth approximately $414,000. 25.15% of the stock is owned by institutional investors and hedge funds.

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.