CervoMed (NASDAQ:CRVO) Given “Buy” Rating at D. Boral Capital

D. Boral Capital reiterated their buy rating on shares of CervoMed (NASDAQ:CRVO) in a report published on Wednesday morning,Benzinga reports. They currently have a $31.00 target price on the stock.

Other research analysts have also issued research reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of CervoMed in a report on Wednesday, January 21st. Brookline Capital Acquisition upgraded shares of CervoMed to a “strong-buy” rating in a research report on Tuesday, February 3rd. Cantor Fitzgerald started coverage on shares of CervoMed in a research note on Thursday, December 18th. They set an “overweight” rating for the company. Zacks Research raised shares of CervoMed from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Finally, HC Wainwright reiterated a “buy” rating and set a $25.00 price target on shares of CervoMed in a report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.17.

CervoMed Price Performance

Shares of CRVO opened at $4.02 on Wednesday. The business has a 50-day moving average of $5.99 and a 200-day moving average of $7.56. The company has a market capitalization of $37.19 million, a price-to-earnings ratio of -1.39 and a beta of -0.77. CervoMed has a 1 year low of $1.92 and a 1 year high of $16.94.

Hedge Funds Weigh In On CervoMed

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. 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 valued at $53,000 after buying an additional 1,526 shares during the period. State Street Corp boosted its holdings in CervoMed by 11.4% in the fourth quarter. State Street Corp now owns 20,527 shares of the company’s stock worth $162,000 after acquiring an additional 2,100 shares in the last quarter. Thompson Davis & CO. Inc. grew 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 acquiring an additional 2,900 shares during the period. Vanguard Group Inc. increased its holdings in shares of CervoMed by 1.0% during the third quarter. Vanguard Group Inc. now owns 343,463 shares of the company’s stock valued at $2,779,000 after acquiring an additional 3,445 shares in the last quarter. Finally, Citizens Financial Group Inc. RI increased its holdings in shares of CervoMed by 14.2% during the third quarter. Citizens Financial Group Inc. RI now owns 30,477 shares of the company’s stock valued at $247,000 after acquiring an additional 3,800 shares in the last quarter. Institutional investors own 25.15% of the company’s stock.

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.