CervoMed Inc. (NASDAQ:CRVO) Receives $22.17 Consensus PT from Analysts

CervoMed Inc. (NASDAQ:CRVO) has received a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $22.1667.

CRVO has been the subject of several recent research reports. HC Wainwright reissued a “buy” rating and set a $25.00 price objective on shares of CervoMed in a report on Thursday, December 18th. Roth Mkm set a $20.00 price target on shares of CervoMed and gave the stock a “buy” rating in a research report on Friday, October 17th. Cantor Fitzgerald began coverage on shares of CervoMed in a report on Thursday, December 18th. They issued an “overweight” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CervoMed in a research note on Wednesday, January 21st. Finally, Zacks Research raised shares of CervoMed from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th.

CervoMed Stock Performance

Shares of CRVO opened at $5.40 on Monday. The business’s fifty day moving average price is $8.00 and its two-hundred day moving average price is $8.27. The firm has a market capitalization of $49.95 million, a price-to-earnings ratio of -1.86 and a beta of -0.89. CervoMed has a 52 week low of $1.92 and a 52 week high of $16.94.

CervoMed (NASDAQ:CRVO) last issued its quarterly earnings results on Friday, November 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.16). The firm had revenue of $0.32 million for the quarter, compared to analyst estimates of $1.43 million. CervoMed had a negative net margin of 415.27% and a negative return on equity of 76.78%. As a group, research analysts forecast that CervoMed will post -1.88 EPS for the current year.

Insider Buying and Selling

In related news, CEO John J. Alam bought 10,793 shares of CervoMed stock in a transaction on Monday, November 17th. The shares were purchased at an average price of $8.46 per share, for a total transaction of $91,308.78. Following the completion of the acquisition, the chief executive officer owned 12,500 shares in the company, valued at approximately $105,750. This represents a 632.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sylvie Gregoire bought 10,807 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were bought at an average price of $8.46 per share, with a total value of $91,427.22. Following the completion of the transaction, the director directly owned 12,500 shares in the company, valued at approximately $105,750. This trade represents a 638.33% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 92,000 shares of company stock valued at $737,723 over the last three months. Company insiders own 35.40% of the company’s stock.

Institutional Trading of CervoMed

A number of hedge funds have recently modified their holdings of CRVO. AQR Capital Management LLC acquired a new position in CervoMed during the first quarter valued at approximately $227,000. Rhumbline Advisers boosted its position in shares of CervoMed by 35.5% during 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. Thompson Davis & CO. Inc. acquired a new position in shares of CervoMed in the 2nd quarter valued at $91,000. Marshall Wace LLP bought a new stake in shares of CervoMed in the 2nd quarter valued at $76,000. Finally, Jane Street Group LLC acquired a new stake in CervoMed during the 2nd quarter worth $414,000. 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. 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.