CervoMed Inc. (NASDAQ:CRVO) Stock Rated “Moderate Buy” by Wall Street Analysts

CervoMed Inc. (NASDAQ:CRVO) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $21.00.

CRVO has been the subject of several recent analyst reports. Weiss Ratings cut shares of CervoMed from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, September 3rd. Wall Street Zen upgraded shares of CervoMed from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Chardan Capital upgraded shares of CervoMed to a “strong-buy” rating in a research report on Monday, August 3rd. Roth Capital set a $7.00 target price on shares of CervoMed in a report on Thursday, August 20th. Finally, HC Wainwright reiterated a “buy” rating on shares of CervoMed in a research report on Monday, October 5th.

CervoMed Price Performance

CervoMed stock opened at $1.55 on Wednesday. CervoMed has a one year low of $1.52 and a one year high of $10.00. The business has a fifty day moving average of $2.51 and a two-hundred day moving average of $3.49.

CervoMed (NASDAQ:CRVO) last posted its quarterly earnings results on Friday, August 7th. The company reported ($0.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.22. On average, analysts expect that CervoMed will post -2.38 earnings per share for the current fiscal year.

Institutional Trading of CervoMed

Several large investors have recently bought and sold shares of the company. NFSG Corp increased its position in shares of CervoMed by 283.3% in the third quarter. NFSG Corp now owns 11,500 shares of the company’s stock valued at $34,000 after buying an additional 8,500 shares in the last quarter. Citizens Financial Group Inc. RI acquired a new position in shares of CervoMed during the 2nd quarter worth $116,000. Byrne Asset Management LLC boosted its position in shares of CervoMed by 248.6% in the 2nd quarter. Byrne Asset Management LLC now owns 51,250 shares of the company’s stock worth $159,000 after buying an additional 36,550 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of CervoMed in the 2nd quarter worth about $167,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of CervoMed in the 1st quarter worth about $252,000. Institutional investors and hedge funds own 25.15% of the company’s stock.

About CervoMed

CervoMed Inc is a clinical-stage biopharmaceutical company focused on developing treatments for neurodegenerative diseases. The company’s lead investigational product is neflamapimod, an orally administered, brain-penetrant small-molecule inhibitor of p38 alpha, an enzyme believed to play a role in neuroinflammation and cognitive decline.

CervoMed is primarily evaluating neflamapimod as a potential treatment for dementia with Lewy bodies, a progressive neurological disorder associated with cognitive impairment, fluctuations in attention, visual hallucinations and movement symptoms.