CervoMed (NASDAQ:CRVO) Rating Increased to Buy at Chardan Capital

Chardan Capital upgraded shares of CervoMed (NASDAQ:CRVO) from a neutral rating to a buy rating in a research note released on Thursday morning, Marketbeat Ratings reports. The brokerage currently has $14.00 price objective on the stock.

A number of other equities analysts have also recently weighed in on CRVO. HC Wainwright cut shares of CervoMed from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 17th. Roth Capital raised shares of CervoMed to a “strong-buy” rating in a research report on Thursday, December 5th. D. Boral Capital reaffirmed a “buy” rating and set a $10.00 price objective on shares of CervoMed in a research report on Tuesday. Roth Mkm increased their price objective on shares of CervoMed from $7.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Canaccord Genuity Group lowered their price objective on shares of CervoMed from $65.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $25.75.

CervoMed Price Performance

CervoMed stock opened at $5.79 on Thursday. The firm has a 50 day simple moving average of $2.37 and a 200-day simple moving average of $8.18. CervoMed has a 1-year low of $1.80 and a 1-year high of $26.38.

Institutional Investors Weigh In On CervoMed

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Citizens Financial Group Inc. RI raised its holdings in shares of CervoMed by 13.2% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 30,509 shares of the company’s stock valued at $445,000 after purchasing an additional 3,553 shares in the last quarter. FMR LLC acquired a new stake in shares of CervoMed in the 3rd quarter valued at $56,000. Barclays PLC raised its holdings in shares of CervoMed by 323.6% in the 3rd quarter. Barclays PLC now owns 7,748 shares of the company’s stock valued at $113,000 after purchasing an additional 5,919 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of CervoMed by 251.8% in the 4th quarter. JPMorgan Chase & Co. now owns 14,464 shares of the company’s stock valued at $34,000 after purchasing an additional 10,352 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of CervoMed in the 4th quarter valued at $26,000. 25.15% of the stock is currently owned by institutional investors and hedge funds.

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.