CervoMed Inc. (NASDAQ:CRVO) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of CervoMed Inc. (NASDAQ:CRVO) have been given an average rating of “Moderate Buy” by the seven research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $21.00.

CRVO has been the topic of a number of analyst reports. Wall Street Zen upgraded CervoMed from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Chardan Capital upgraded CervoMed to a “strong-buy” rating in a report on Monday, August 3rd. Weiss Ratings downgraded CervoMed from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday. HC Wainwright reiterated a “buy” rating on shares of CervoMed in a report on Wednesday, August 12th. Finally, Roth Capital set a $7.00 price target on shares of CervoMed in a research report on Thursday, August 20th.

Insider Activity at CervoMed

In related news, Director Joshua S. Boger bought 955,414 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were bought at an average price of $3.14 per share, with a total value of $2,999,999.96. Following the completion of the transaction, the director directly owned 1,795,865 shares of the company’s stock, valued at $5,639,016.10. This represents a 113.68% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 35.80% of the stock is currently owned by company insiders.

Institutional Trading of CervoMed

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers increased its stake in shares of CervoMed by 35.5% during the first quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock worth $53,000 after buying an additional 1,526 shares during the period. Marshall Wace LLP purchased a new position in CervoMed in the second quarter worth approximately $76,000. XTX Topco Ltd purchased a new position in CervoMed in the fourth quarter worth approximately $81,000. Jane Street Group LLC acquired a new position in CervoMed during the 4th quarter worth approximately $88,000. Finally, Dimensional Fund Advisors LP acquired a new position in CervoMed during the 4th quarter worth approximately $110,000. 25.15% of the stock is currently owned by hedge funds and other institutional investors.

CervoMed Stock Performance

CervoMed stock opened at $2.56 on Tuesday. The firm has a market cap of $38.71 million, a PE ratio of -0.80 and a beta of -0.64. CervoMed has a 12 month low of $2.13 and a 12 month high of $10.74. The stock’s 50 day simple moving average is $2.88 and its two-hundred day simple moving average is $3.46.

CervoMed (NASDAQ:CRVO) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.86) by $0.22. CervoMed had a negative return on equity of 156.02% and a negative net margin of 672.80%. On average, equities research analysts forecast that CervoMed will post -2.38 EPS for the current year.

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.