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

CervoMed Inc. (NASDAQ:CRVO) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $22.60.

Several research analysts have commented on CRVO shares. HC Wainwright reissued a “buy” rating on shares of CervoMed in a report on Wednesday, July 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CervoMed in a report on Friday, July 17th. Roth Capital set a $9.00 price objective on CervoMed in a research report on Monday, May 18th. Finally, D. Boral Capital reissued a “buy” rating and set a $31.00 price objective on shares of CervoMed in a research note on Wednesday, April 22nd.

Insider Transactions at CervoMed

In related news, Director Joshua S. Boger bought 955,414 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average cost of $3.14 per share, for a total transaction of $2,999,999.96. Following the acquisition, the director directly owned 1,795,865 shares of the company’s stock, valued at $5,639,016.10. The trade was a 113.68% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 35.80% of the stock is currently owned by insiders.

Institutional Trading of CervoMed

Several institutional investors and hedge funds have recently bought and sold shares of CRVO. Rhumbline Advisers grew its stake in shares of CervoMed by 35.5% in the 1st quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock worth $53,000 after buying an additional 1,526 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of CervoMed during the second quarter valued at approximately $76,000. XTX Topco Ltd purchased a new stake in CervoMed during the 4th quarter valued at $81,000. Jane Street Group LLC purchased a new stake in CervoMed during the fourth quarter valued at $88,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of CervoMed during the 4th quarter valued at about $110,000. 25.15% of the stock is currently owned by hedge funds and other institutional investors.

CervoMed Price Performance

Shares of CervoMed stock opened at $2.66 on Monday. The company has a market cap of $35.99 million, a PE ratio of -0.81 and a beta of -0.68. CervoMed has a 52 week low of $2.13 and a 52 week high of $13.13. The business has a 50 day moving average price of $3.20 and a 200-day moving average price of $4.19.

CervoMed (NASDAQ:CRVO) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.86) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.04. CervoMed had a negative return on equity of 136.08% and a negative net margin of 672.80%. As a group, research analysts anticipate that CervoMed will post -2.84 EPS for the current year.

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.