Brokerages Set CervoMed Inc. (NASDAQ:CRVO) Target Price at $22.17

Shares of CervoMed Inc. (NASDAQ:CRVO) have earned a consensus rating of “Moderate Buy” from the ten analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $22.1667.

CRVO has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CervoMed in a research note on Wednesday, January 21st. D. Boral Capital reaffirmed a “buy” rating and set a $31.00 target price on shares of CervoMed in a research report on Wednesday, February 18th. Brookline Capital Acquisition raised shares of CervoMed to a “strong-buy” rating in a research report on Tuesday, February 3rd. HC Wainwright restated a “buy” rating and set a $25.00 price target on shares of CervoMed in a research note 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.

CervoMed Stock Down 11.5%

CervoMed stock opened at $4.63 on Friday. The company has a market capitalization of $42.83 million, a PE ratio of -1.60 and a beta of -0.81. The firm’s fifty day moving average is $6.61 and its 200 day moving average is $7.85. CervoMed has a 12-month low of $1.92 and a 12-month high of $16.94.

Institutional Trading of CervoMed

Institutional investors and hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. grew its holdings in CervoMed by 8,425,900.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 84,260 shares of the company’s stock worth $666,000 after buying an additional 84,259 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of CervoMed in the 2nd quarter worth $414,000. Citadel Advisors LLC purchased a new stake in shares of CervoMed in the third quarter valued at about $247,000. Savvy Advisors Inc. bought a new position in shares of CervoMed during the third quarter valued at about $210,000. Finally, AQR Capital Management LLC purchased a new position in CervoMed during the first quarter worth about $227,000. 25.15% of the stock is owned by hedge funds and other institutional investors.

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.