Chardan Capital Reiterates Neutral Rating for CervoMed (NASDAQ:CRVO)

by · The Markets Daily

Chardan Capital reiterated their neutral rating on shares of CervoMed (NASDAQ:CRVO – Free Report) in a research note released on Wednesday, Marketbeat reports.

Other equities analysts have also issued research reports about the company. D. Boral Capital reaffirmed a “hold” rating on shares of CervoMed in a research report on Tuesday. Roth Mkm assumed coverage on shares of CervoMed in a research note on Friday, December 6th. They issued a “buy” rating and a $45.00 target price on the stock. HC Wainwright started coverage on shares of CervoMed in a research report on Thursday, December 5th. They set a “buy” rating and a $42.00 price target for the company. Finally, Roth Capital raised CervoMed to a “strong-buy” rating in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.00.

Get Our Latest Research Report on CervoMed

CervoMed Stock Down 9.7 %

Shares of NASDAQ CRVO opened at $1.95 on Wednesday. The company has a 50 day simple moving average of $11.74 and a two-hundred day simple moving average of $14.85. CervoMed has a fifty-two week low of $1.90 and a fifty-two week high of $26.38.

CervoMed (NASDAQ:CRVO – Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.14). CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%. The company had revenue of $1.94 million for the quarter, compared to the consensus estimate of $1.75 million. Analysts predict that CervoMed will post -1.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CervoMed

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI bought a new position in shares of CervoMed during the 2nd quarter valued at $461,000. State Street Corp grew its holdings in shares of CervoMed by 28.1% in the third quarter. State Street Corp now owns 104,456 shares of the company’s stock worth $1,525,000 after acquiring an additional 22,903 shares during the period. Geode Capital Management LLC increased its position in CervoMed by 13.9% during the third quarter. Geode Capital Management LLC now owns 114,934 shares of the company’s stock valued at $1,678,000 after acquiring an additional 14,042 shares during the last quarter. Bank of New York Mellon Corp bought a new position in CervoMed in the second quarter valued at about $236,000. Finally, Barclays PLC lifted its holdings in CervoMed by 323.6% in the third quarter. Barclays PLC now owns 7,748 shares of the company’s stock valued at $113,000 after acquiring an additional 5,919 shares during the period. Hedge funds and other institutional investors own 25.15% of the company’s stock.

About CervoMed

(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.

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