CervoMed’s (CRVO) Neutral Rating Reiterated at Chardan Capital

Chardan Capital reiterated their neutral rating on shares of CervoMed (NASDAQ:CRVO) in a research report report published on Wednesday morning, Marketbeat Ratings reports.

Several other equities analysts have also recently commented on CRVO. Roth Mkm assumed coverage on CervoMed in a research note on Friday, December 6th. They set a “buy” rating and a $45.00 target price for the company. Roth Capital upgraded shares of CervoMed to a “strong-buy” rating in a research note on Thursday, December 5th. D. Boral Capital reaffirmed a “hold” rating on shares of CervoMed in a research report on Tuesday. Finally, HC Wainwright began coverage on shares of CervoMed in a research report on Thursday, December 5th. They set a “buy” rating and a $42.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, CervoMed has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

CervoMed Stock Performance

Shares of CRVO stock opened at $1.90 on Wednesday. The firm has a fifty day simple moving average of $11.04 and a 200-day simple moving average of $14.55. CervoMed has a twelve month low of $1.81 and a twelve month high of $26.38.

CervoMed (NASDAQ:CRVO) 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). The firm had revenue of $1.94 million during the quarter, compared to analysts’ expectations of $1.75 million. CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%. As a group, equities analysts predict that CervoMed will post -1.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CervoMed

A number of large investors have recently bought and sold shares of the business. Barclays PLC lifted its holdings in shares of CervoMed by 323.6% in the 3rd quarter. Barclays PLC now owns 7,748 shares of the company’s stock worth $113,000 after purchasing an additional 5,919 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 period. State Street Corp boosted its holdings in shares of CervoMed by 28.1% during the third quarter. State Street Corp now owns 104,456 shares of the company’s stock valued at $1,525,000 after acquiring an additional 22,903 shares during the period. FMR LLC acquired a new position in shares of CervoMed during the third quarter valued at $56,000. Finally, Citizens Financial Group Inc. RI boosted its holdings in shares of CervoMed by 13.2% during the third quarter. Citizens Financial Group Inc. RI now owns 30,509 shares of the company’s stock valued at $445,000 after acquiring an additional 3,553 shares during the period. 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.