John Alam Buys 4,447 Shares of CervoMed (NASDAQ:CRVO) Stock

CervoMed Inc. (NASDAQ:CRVO) CEO John Alam purchased 4,447 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were acquired at an average price of $7.51 per share, with a total value of $33,396.97. Following the completion of the transaction, the chief executive officer owned 1,471,578 shares of the company’s stock, valued at approximately $11,051,550.78. This trade represents a 0.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

CervoMed Trading Up 1.1%

CRVO opened at $8.30 on Wednesday. The company has a market cap of $76.80 million, a P/E ratio of -3.18 and a beta of -0.89. The business’s 50-day moving average price is $7.81 and its 200-day moving average price is $8.11. CervoMed Inc. has a 12 month low of $1.80 and a 12 month high of $16.94.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its position in shares of 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 period. GSA Capital Partners LLP bought a new position in CervoMed in the third quarter worth about $91,000. HighTower Advisors LLC purchased a new stake in CervoMed in the first quarter worth about $104,000. Marshall Wace LLP purchased a new stake in CervoMed in the second quarter worth about $76,000. Finally, Bank of New York Mellon Corp bought a new stake in CervoMed during the 1st quarter valued at approximately $110,000. 25.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. HC Wainwright upgraded shares of CervoMed from a “neutral” rating to a “buy” rating and raised their target price for the stock from $11.00 to $25.00 in a report on Wednesday, November 5th. Chardan Capital reissued a “buy” rating and issued a $15.00 price target on shares of CervoMed in a report on Monday, August 11th. Weiss Ratings restated a “sell (d-)” rating on shares of CervoMed in a research report on Wednesday, October 8th. Roth Capital set a $20.00 price objective on shares of CervoMed and gave the company a “buy” rating in a research note on Friday, October 17th. Finally, Canaccord Genuity Group raised their target price on CervoMed from $21.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.