CervoMed (NASDAQ:CRVO) Stock Rating Upgraded by Chardan Capital

by · The Cerbat Gem

CervoMed (NASDAQ:CRVO – Get Free Report) was upgraded by investment analysts at Chardan Capital to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other research firms have also commented on CRVO. HC Wainwright restated a “buy” rating on shares of CervoMed in a research report on Wednesday, July 15th. Roth Capital set a $9.00 target price on shares of CervoMed in a research note on Monday, May 18th. Weiss Ratings downgraded CervoMed from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 31st. Finally, D. Boral Capital reissued a “buy” rating and issued a $31.00 target price on shares of CervoMed in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $21.50.

Get Our Latest Analysis on CervoMed

CervoMed Trading Up 0.4%

NASDAQ CRVO opened at $2.81 on Monday. CervoMed has a 1-year low of $2.13 and a 1-year high of $11.25. The company has a market capitalization of $38.01 million, a price-to-earnings ratio of -0.86 and a beta of -0.63. The stock’s 50 day moving average is $3.13 and its two-hundred day moving average is $3.92.

CervoMed (NASDAQ:CRVO – Get Free Report) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.86) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.04. CervoMed had a negative return on equity of 136.08% and a negative net margin of 672.80%. On average, analysts predict that CervoMed will post -2.84 earnings per share for the current year.

Insider Activity

In other CervoMed news, Director Joshua S. Boger purchased 955,414 shares of the stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $3.14 per share, for a total transaction of $2,999,999.96. Following the transaction, the director directly owned 1,795,865 shares in the company, valued at $5,639,016.10. This represents a 113.68% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 35.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Rhumbline Advisers grew its stake 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 during the period. XTX Topco Ltd bought a new stake in CervoMed in the fourth quarter valued at about $81,000. Jane Street Group LLC acquired a new position in CervoMed in the fourth quarter valued at about $88,000. Marshall Wace LLP acquired a new position in CervoMed in the second quarter valued at about $76,000. Finally, Dimensional Fund Advisors LP bought a new position in CervoMed during the fourth quarter worth about $110,000. Institutional investors and hedge funds own 25.15% of the company’s stock.

CervoMed Company Profile

(Get Free Report)

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.

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