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

Shares of CervoMed Inc. (NASDAQ:CRVO) have earned an average rating of “Moderate Buy” from the ten research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $22.1667.

Several research firms have recently commented on CRVO. Cantor Fitzgerald began coverage on CervoMed in a report on Thursday, December 18th. They issued an “overweight” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CervoMed in a research note on Wednesday. Roth Mkm set a $20.00 price objective on CervoMed and gave the company a “buy” rating in a research report on Friday, October 17th. HC Wainwright restated a “buy” rating and issued a $25.00 target price on shares of CervoMed in a report on Thursday, December 18th. Finally, Zacks Research raised shares of CervoMed from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th.

Insider Buying and Selling at CervoMed

In other news, insider Matthew Winton acquired 10,000 shares of the stock in a transaction dated Friday, November 14th. The stock was purchased at an average cost of $7.57 per share, with a total value of $75,700.00. Following the completion of the purchase, the insider owned 10,000 shares in the company, valued at approximately $75,700. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John J. Alam bought 10,807 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were purchased at an average price of $8.46 per share, with a total value of $91,427.22. Following the completion of the acquisition, the chief executive officer owned 1,484,078 shares of the company’s stock, valued at $12,555,299.88. This trade represents a 0.73% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 92,000 shares of company stock worth $737,723. 35.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CervoMed

A number of large investors have recently made changes to their positions in the business. Thompson Davis & CO. Inc. bought a new position in shares of CervoMed during the second quarter valued at approximately $88,000. Jane Street Group LLC bought a new stake in CervoMed in the second quarter valued at $414,000. Vanguard Group Inc. increased its position in CervoMed by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 343,463 shares of the company’s stock valued at $2,779,000 after purchasing an additional 3,445 shares during the period. Perigon Wealth Management LLC raised its holdings in CervoMed by 66.0% in the 3rd quarter. Perigon Wealth Management LLC now owns 28,731 shares of the company’s stock worth $232,000 after purchasing an additional 11,425 shares in the last quarter. Finally, Citizens Financial Group Inc. RI lifted its position in shares of CervoMed by 14.2% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 30,477 shares of the company’s stock worth $247,000 after purchasing an additional 3,800 shares during the period. 25.15% of the stock is currently owned by institutional investors.

CervoMed Stock Performance

Shares of CRVO opened at $6.28 on Monday. CervoMed has a fifty-two week low of $1.92 and a fifty-two week high of $16.94. The firm has a market cap of $58.09 million, a price-to-earnings ratio of -2.17 and a beta of -0.89. The firm has a 50 day moving average price of $8.15 and a 200-day moving average price of $8.31.

CervoMed (NASDAQ:CRVO) last released its earnings results on Friday, November 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.16). The business had revenue of $0.32 million for the quarter, compared to the consensus estimate of $1.43 million. CervoMed had a negative net margin of 415.27% and a negative return on equity of 76.78%. As a group, equities research analysts predict that CervoMed will post -1.88 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.