CervoMed (NASDAQ:CRVO) Upgraded by Brookline Capital Management to “Strong-Buy” Rating

CervoMed (NASDAQ:CRVO) was upgraded by analysts at Brookline Capital Management from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports. Brookline Capital Management also issued estimates for CervoMed’s Q4 2024 earnings at ($0.70) EPS, FY2024 earnings at ($1.80) EPS, Q1 2025 earnings at ($0.48) EPS, Q2 2025 earnings at ($0.48) EPS, Q3 2025 earnings at ($0.38) EPS, Q4 2025 earnings at ($0.39) EPS and FY2025 earnings at ($1.71) EPS.

A number of other research analysts also recently weighed in on the stock. Morgan Stanley restated an “underweight” rating on shares of CervoMed in a research report on Wednesday, December 11th. Roth Capital upgraded shares of CervoMed to a “strong-buy” rating in a research report on Thursday, December 5th. HC Wainwright downgraded shares of CervoMed from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 17th. Canaccord Genuity Group decreased their price target on shares of CervoMed from $65.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $10.00 price target on shares of CervoMed in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, CervoMed has a consensus rating of “Moderate Buy” and a consensus price target of $33.14.

CervoMed Stock Performance

Shares of CervoMed stock opened at $6.17 on Tuesday. The company’s 50 day moving average is $2.30 and its 200 day moving average is $8.20. CervoMed has a twelve month low of $1.80 and a twelve month high of $26.38.

Hedge Funds Weigh In On CervoMed

Several institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake 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 in the last quarter. State Street Corp grew its stake in shares of CervoMed by 28.1% in the 3rd quarter. State Street Corp now owns 104,456 shares of the company’s stock worth $1,525,000 after buying an additional 22,903 shares in the last quarter. Woodline Partners LP bought a new stake in shares of CervoMed in the 4th quarter worth about $175,000. Perigon Wealth Management LLC bought a new stake in shares of CervoMed in the 4th quarter worth about $147,000. Finally, Nuveen Asset Management LLC increased its holdings in shares of CervoMed by 113.6% in the 4th quarter. Nuveen Asset Management LLC now owns 41,569 shares of the company’s stock worth $97,000 after buying an additional 22,104 shares during the last quarter. 25.15% of the stock is owned by hedge funds and other institutional investors.

About CervoMed

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.