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

Shares of CervoMed Inc. (NASDAQ:CRVO) have been assigned an average recommendation of “Moderate Buy” from the nine research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $27.50.

Several analysts recently weighed in on the stock. Roth Mkm boosted their price objective on shares of CervoMed from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. Morgan Stanley reiterated an “underweight” rating on shares of CervoMed in a research report on Wednesday, December 11th. Jones Trading upgraded CervoMed from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Thursday, March 13th. Chardan Capital raised CervoMed from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Thursday, March 13th. Finally, HC Wainwright downgraded shares of CervoMed from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 17th.

CervoMed Trading Down 3.5 %

NASDAQ:CRVO opened at $9.15 on Tuesday. The stock’s 50-day moving average is $4.14 and its 200-day moving average is $7.48. CervoMed has a 1-year low of $1.80 and a 1-year high of $25.92. The stock has a market cap of $79.63 million, a P/E ratio of -4.51 and a beta of 1.84.

CervoMed (NASDAQ:CRVO) last posted its earnings results on Monday, March 17th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.13). CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%. The business had revenue of $2.16 million for the quarter, compared to the consensus estimate of $1.51 million. As a group, equities analysts forecast that CervoMed will post -1.88 EPS for the current year.

Institutional Trading of CervoMed

Several large investors have recently modified their holdings of CRVO. Woodline Partners LP acquired a new position in shares of CervoMed during the 4th quarter valued at $175,000. Perigon Wealth Management LLC bought a new stake in CervoMed in the fourth quarter valued at $147,000. State Street Corp raised its holdings in shares of CervoMed by 28.1% during the third quarter. State Street Corp now owns 104,456 shares of the company’s stock valued at $1,525,000 after purchasing an additional 22,903 shares during the period. Nuveen Asset Management LLC boosted its position in shares of CervoMed by 113.6% during the 4th quarter. Nuveen Asset Management LLC now owns 41,569 shares of the company’s stock worth $97,000 after purchasing an additional 22,104 shares in the last quarter. Finally, Cornerstone Wealth Management LLC acquired a new stake in shares of CervoMed in the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 25.15% of the company’s stock.

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.