CervoMed Inc. (NASDAQ:CRVO – Free Report) – Equities research analysts at Zacks Small Cap raised their FY2024 earnings per share (EPS) estimates for shares of CervoMed in a report released on Wednesday, April 10th. Zacks Small Cap analyst D. Bautz now expects that the company will post earnings of ($1.13) per share for the year, up from their previous forecast of ($2.67). The consensus estimate for CervoMed’s current full-year earnings is ($2.67) per share. Zacks Small Cap also issued estimates for CervoMed’s FY2025 earnings at ($1.62) EPS.
Several other brokerages also recently issued reports on CRVO. Canaccord Genuity Group lifted their price objective on CervoMed from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Canaccord Genuity Group assumed coverage on CervoMed in a research report on Thursday, February 15th. They set a “buy” rating and a $50.00 price objective for the company.
CervoMed Price Performance
Shares of NASDAQ:CRVO opened at $25.19 on Friday. CervoMed has a 12 month low of $4.14 and a 12 month high of $26.38. The business’s 50 day simple moving average is $17.55 and its 200-day simple moving average is $11.67.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. acquired a new position in CervoMed in the 3rd quarter valued at $921,000. Rock Springs Capital Management LP acquired a new position in CervoMed in the 3rd quarter valued at $370,000. Vanguard Group Inc. acquired a new position in CervoMed in the 3rd quarter valued at $92,000. Finally, CWM LLC acquired a new position in CervoMed in the 4th quarter valued at $292,000. 25.15% of the stock is currently owned by institutional investors and hedge funds.
About CervoMed
CervoMed Inc, a clinical-stage biotechnology company, engages in the development and commercialization of drug treatments for neurodegenerative diseases. It develops neflamapimod, an orally administered small molecule brain penetrant for the treatment of dementia with Lewy bodies (DLB), Alzheimer's diseases, and brain stroke recovery.
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