CervoMed (NASDAQ:CRVO) Upgraded at Brookline Capital Management

Brookline Capital Management upgraded shares of CervoMed (NASDAQ:CRVO) to a strong-buy rating in a report published on Tuesday morning,Zacks.com reports.

Other analysts have also issued reports about the company. HC Wainwright restated a “buy” rating and issued a $25.00 price target on shares of CervoMed in a report on Thursday, December 18th. Zacks Research upgraded CervoMed from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Cantor Fitzgerald assumed coverage on CervoMed in a research report on Thursday, December 18th. They set an “overweight” rating for the company. D. Boral Capital reaffirmed a “buy” rating and set a $31.00 price target on shares of CervoMed in a research note on Tuesday, December 2nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of CervoMed in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.17.

CervoMed Stock Down 1.5%

Shares of CRVO stock opened at $4.60 on Tuesday. CervoMed has a 12-month low of $1.92 and a 12-month high of $16.94. The firm has a fifty day moving average of $7.45 and a 200-day moving average of $8.16. The company has a market capitalization of $42.55 million, a price-to-earnings ratio of -1.59 and a beta of -0.82.

CervoMed (NASDAQ:CRVO) last announced its earnings results on Friday, November 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.16). The company had revenue of $0.32 million during the quarter, compared to analyst estimates of $1.43 million. CervoMed had a negative return on equity of 76.78% and a negative net margin of 415.27%. On average, equities analysts expect that CervoMed will post -1.88 EPS for the current year.

Insider Activity at CervoMed

In other news, CEO John J. Alam bought 10,807 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average cost of $8.46 per share, for a total transaction of $91,427.22. Following the completion of the acquisition, the chief executive officer owned 1,484,078 shares in the company, valued at approximately $12,555,299.88. This represents a 0.73% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sylvie Gregoire purchased 10,807 shares of the company’s stock in a transaction on Monday, November 17th. The shares were purchased at an average cost of $8.46 per share, for a total transaction of $91,427.22. Following the completion of the transaction, the director directly owned 12,500 shares of the company’s stock, valued at approximately $105,750. This represents a 638.33% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders bought 92,000 shares of company stock valued at $737,723. 35.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CervoMed

Several hedge funds have recently bought and sold shares of CRVO. Rhumbline Advisers lifted its position in shares of CervoMed by 35.5% in the first quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock valued at $53,000 after buying an additional 1,526 shares during the last quarter. Thompson Davis & CO. Inc. raised its stake in CervoMed by 20.8% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 16,850 shares of the company’s stock valued at $136,000 after acquiring an additional 2,900 shares during the period. Vanguard Group Inc. raised its stake in CervoMed by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 343,463 shares of the company’s stock valued at $2,779,000 after acquiring an additional 3,445 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in CervoMed by 14.2% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 30,477 shares of the company’s stock valued at $247,000 after purchasing an additional 3,800 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in CervoMed during the third quarter worth $91,000. 25.15% of the stock is currently owned by institutional investors and hedge funds.

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.