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

Shares of CervoMed Inc. (NASDAQ:CRVO) have earned an average rating of “Moderate Buy” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $22.60.

Several brokerages recently issued reports on CRVO. Roth Mkm set a $9.00 price objective on CervoMed in a research note on Monday, May 18th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 target price on shares of CervoMed in a research report on Thursday, April 23rd. Chardan Capital upped their target price on CervoMed from $15.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of CervoMed in a research report on Monday, April 20th. Finally, D. Boral Capital restated a “buy” rating and set a $31.00 price target on shares of CervoMed in a research note on Wednesday, April 22nd.

Insiders Place Their Bets

In other CervoMed news, Director Joshua S. Boger acquired 955,414 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average cost of $3.14 per share, with a total value of $2,999,999.96. Following the completion of the purchase, the director directly owned 1,795,865 shares in the company, valued at $5,639,016.10. The trade was a 113.68% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 35.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CRVO. Northwestern Mutual Wealth Management Co. boosted its position in CervoMed by 8,425,900.0% during 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 in the last quarter. Jane Street Group LLC bought a new position in shares of CervoMed in the 2nd quarter worth $414,000. Renaissance Technologies LLC bought a new position in shares of CervoMed in the 1st quarter worth $252,000. Citadel Advisors LLC purchased a new stake in shares of CervoMed during the 3rd quarter worth $247,000. Finally, AQR Capital Management LLC purchased a new stake in shares of CervoMed during the 1st quarter worth $227,000. Hedge funds and other institutional investors own 25.15% of the company’s stock.

CervoMed Price Performance

CervoMed stock opened at $3.69 on Thursday. The stock has a market cap of $40.70 million, a price-to-earnings ratio of -1.12 and a beta of -0.68. The firm has a 50-day moving average of $3.40 and a two-hundred day moving average of $4.78. CervoMed has a 1 year low of $2.13 and a 1 year high of $13.13.

CervoMed (NASDAQ:CRVO) last issued its earnings results on Friday, May 15th. The company reported ($0.86) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.04. CervoMed had a negative net margin of 672.80% and a negative return on equity of 136.08%. Research analysts expect that CervoMed will post -2.86 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.