CervoMed (NASDAQ:CRVO) Upgraded at Brookline Capital Management

CervoMed (NASDAQ:CRVO) was upgraded by analysts at Brookline Capital Management to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

CRVO has been the topic of a number of other reports. Zacks Research upgraded shares of CervoMed from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. D. Boral Capital reissued a “buy” rating and issued a $31.00 price target on shares of CervoMed in a research note on Tuesday, December 2nd. Roth Mkm set a $20.00 price objective on CervoMed and gave the stock a “buy” rating in a research report on Friday, October 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of CervoMed in a research report on Wednesday, January 21st. Finally, Cantor Fitzgerald started coverage on CervoMed in a research note on Thursday, December 18th. They issued an “overweight” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, CervoMed currently has a consensus rating of “Moderate Buy” and an average price target of $22.17.

CervoMed Price Performance

NASDAQ CRVO opened at $4.67 on Tuesday. CervoMed has a one year low of $1.92 and a one year high of $16.94. The firm has a market cap of $43.20 million, a P/E ratio of -1.61 and a beta of -0.82. The stock’s 50-day moving average is $7.55 and its 200-day moving average is $8.18.

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

Insider Buying and Selling

In related news, CEO John J. Alam purchased 10,793 shares of CervoMed stock in a transaction that occurred on Monday, November 17th. The stock was purchased at an average cost of $8.46 per share, with a total value of $91,308.78. Following the completion of the transaction, the chief executive officer owned 12,500 shares of the company’s stock, valued at approximately $105,750. This trade represents a 632.28% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sylvie Gregoire purchased 10,807 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was bought at an average price of $8.46 per share, with a total value of $91,427.22. Following the completion of the purchase, the director owned 12,500 shares of the company’s stock, valued at approximately $105,750. This represents a 638.33% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 92,000 shares of company stock worth $737,723. Corporate insiders own 35.40% of the company’s stock.

Institutional Trading of CervoMed

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in CervoMed by 35.5% in the 1st quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock valued at $53,000 after purchasing an additional 1,526 shares during the last quarter. Thompson Davis & CO. Inc. raised its stake in CervoMed by 20.8% in the third quarter. Thompson Davis & CO. Inc. now owns 16,850 shares of the company’s stock valued at $136,000 after buying an additional 2,900 shares during the period. Vanguard Group Inc. lifted its position in shares of CervoMed by 1.0% in the third quarter. Vanguard Group Inc. now owns 343,463 shares of the company’s stock valued at $2,779,000 after buying an additional 3,445 shares during the last quarter. Citizens Financial Group Inc. RI lifted its position in shares of CervoMed by 14.2% in the third quarter. Citizens Financial Group Inc. RI now owns 30,477 shares of the company’s stock valued at $247,000 after buying an additional 3,800 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of CervoMed during the 3rd quarter worth approximately $91,000. 25.15% of the stock is owned by institutional investors.

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.