CervoMed’s (CRVO) “Buy” Rating Reiterated at Chardan Capital

Chardan Capital restated their buy rating on shares of CervoMed (NASDAQ:CRVO) in a research note published on Thursday,Benzinga reports. They currently have a $15.00 price target on the stock.

Several other equities research analysts have also weighed in on CRVO. Brookline Capital Acquisition raised CervoMed to a “strong-buy” rating in a research note on Tuesday, February 3rd. Cantor Fitzgerald began coverage on CervoMed in a research report on Thursday, December 18th. They set an “overweight” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CervoMed in a report on Wednesday, January 21st. Zacks Research upgraded CervoMed from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Finally, D. Boral Capital reissued a “buy” rating and issued a $31.00 price target on shares of CervoMed in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.17.

CervoMed Stock Up 2.5%

Shares of CRVO opened at $4.11 on Thursday. The firm has a market cap of $38.02 million, a price-to-earnings ratio of -1.42 and a beta of -0.77. CervoMed has a 52-week low of $1.92 and a 52-week high of $16.94. The business’s 50 day moving average is $5.83 and its two-hundred day moving average is $7.49.

Institutional Trading of CervoMed

Several hedge funds and other institutional investors have recently modified their holdings of CRVO. Thompson Davis & CO. Inc. acquired a new stake in CervoMed during the 2nd quarter worth about $88,000. Marshall Wace LLP acquired a new position in shares of CervoMed in the 2nd quarter valued at about $76,000. 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 worth $53,000 after purchasing an additional 1,526 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of CervoMed by 8,425,900.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 84,260 shares of the company’s stock worth $666,000 after purchasing an additional 84,259 shares in the last quarter. Finally, Citizens Financial Group Inc. RI boosted its holdings in shares of CervoMed by 23.0% during the fourth quarter. Citizens Financial Group Inc. RI now owns 37,477 shares of the company’s stock worth $296,000 after purchasing an additional 7,000 shares during the period. Institutional investors and hedge funds own 25.15% of the company’s stock.

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.