CervoMed (NASDAQ:CRVO) Insider Matthew Winton Buys 1,500 Shares

CervoMed Inc. (NASDAQ:CRVO) insider Matthew Winton acquired 1,500 shares of the company’s stock in a transaction dated Tuesday, November 18th. The stock was purchased at an average cost of $7.95 per share, for a total transaction of $11,925.00. Following the purchase, the insider directly owned 15,000 shares in the company, valued at approximately $119,250. This represents a 11.11% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this link.

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

• On Monday, November 17th, Matthew Winton purchased 3,500 shares of CervoMed stock. The stock was acquired at an average cost of $8.43 per share, with a total value of $29,505.00.
• On Friday, November 14th, Matthew Winton bought 10,000 shares of CervoMed stock. The stock was bought at an average price of $7.57 per share, for a total transaction of $75,700.00.

CervoMed Trading Up 5.7%

NASDAQ CRVO opened at $8.78 on Wednesday. The stock’s 50-day moving average price is $7.81 and its two-hundred day moving average price is $8.11. The company has a market cap of $81.20 million, a PE ratio of -3.36 and a beta of -0.89. CervoMed Inc. has a 1 year low of $1.80 and a 1 year high of $16.94.

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. Research analysts forecast that CervoMed Inc. will post -1.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Roth Capital set a $20.00 target price on shares of CervoMed and gave the company a “buy” rating in a research note on Friday, October 17th. Weiss Ratings restated a “sell (d-)” rating on shares of CervoMed in a research note on Wednesday, October 8th. Zacks Research downgraded CervoMed from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Canaccord Genuity Group increased their price objective on CervoMed from $21.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Finally, HC Wainwright upgraded shares of CervoMed from a “neutral” rating to a “buy” rating and lifted their target price for the company from $11.00 to $25.00 in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.86.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. AWM Investment Company Inc. acquired a new position in CervoMed during the 1st quarter worth $7,898,000. Vanguard Group Inc. grew its holdings in CervoMed by 1.0% in the 3rd 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. Jane Street Group LLC bought a new position in CervoMed in the 2nd quarter worth approximately $414,000. Nuveen LLC acquired a new position in shares of CervoMed during the first quarter worth approximately $312,000. Finally, Citadel Advisors LLC bought a new stake in shares of CervoMed in the third quarter valued at approximately $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.