Sylvie Gregoire Buys 4,447 Shares of CervoMed (NASDAQ:CRVO) Stock

CervoMed Inc. (NASDAQ:CRVO) Director Sylvie Gregoire acquired 4,447 shares of the stock in a transaction dated Thursday, November 13th. The stock was bought at an average price of $7.51 per share, with a total value of $33,396.97. Following the purchase, the director directly owned 1,471,578 shares in the company, valued at $11,051,550.78. This represents a 0.30% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Sylvie Gregoire also recently made the following trade(s):

• On Friday, November 14th, Sylvie Gregoire bought 1,693 shares of CervoMed stock. The shares were bought at an average cost of $7.55 per share, for a total transaction of $12,782.15.
• On Friday, November 14th, Sylvie Gregoire purchased 1,707 shares of CervoMed stock. The stock was bought at an average price of $7.57 per share, with a total value of $12,921.99.
• On Wednesday, November 12th, Sylvie Gregoire purchased 5,553 shares of CervoMed stock. The stock was bought at an average cost of $7.35 per share, with a total value of $40,814.55.

CervoMed Trading Up 1.1%

Shares of NASDAQ CRVO opened at $8.30 on Wednesday. The firm has a market capitalization of $76.80 million, a P/E ratio of -3.18 and a beta of -0.89. The firm’s 50-day moving average price is $7.81 and its 200-day moving average price is $8.11. CervoMed Inc. has a 1-year low of $1.80 and a 1-year high of $16.94.

CervoMed (NASDAQ:CRVO) last issued its earnings results on Friday, November 7th. The company reported ($0.84) 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 firm had revenue of $0.32 million during the quarter, compared to the consensus estimate of $1.43 million. Equities research analysts forecast that CervoMed Inc. will post -1.88 EPS for the current year.

Institutional Investors Weigh In On CervoMed

Institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers lifted its stake in CervoMed by 35.5% during the 1st quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock valued at $53,000 after acquiring an additional 1,526 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of CervoMed in the second quarter valued at about $76,000. Thompson Davis & CO. Inc. bought a new position in shares of CervoMed during the second quarter valued at about $88,000. GSA Capital Partners LLP purchased a new position in CervoMed during the third quarter worth about $91,000. Finally, HighTower Advisors LLC purchased a new position in CervoMed during the first quarter worth about $104,000. Institutional investors own 25.15% of the company’s stock.

Wall Street Analyst Weigh In

CRVO has been the subject of several recent research reports. Roth Capital set a $20.00 target price on CervoMed and gave the stock a “buy” rating in a research report on Friday, October 17th. Zacks Research downgraded shares of CervoMed from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. D. Boral Capital restated a “buy” rating and set a $31.00 price target on shares of CervoMed in a research note on Tuesday, November 11th. Canaccord Genuity Group raised their price objective on shares of CervoMed from $21.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Finally, Chardan Capital reiterated a “buy” rating and set a $15.00 price objective on shares of CervoMed in a report on Monday, August 11th. One 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.86.

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.