CervoMed (NASDAQ:CRVO) Earns “Buy” Rating from Chardan Capital

Chardan Capital reiterated their buy rating on shares of CervoMed (NASDAQ:CRVO) in a research report released on Thursday morning,Benzinga reports. Chardan Capital currently has a $55.00 target price on the stock.

CRVO has been the topic of several other research reports. Morgan Stanley assumed coverage on shares of CervoMed in a research note on Friday, July 26th. They issued an “overweight” rating and a $35.00 target price on the stock. Canaccord Genuity Group reissued a “buy” rating and set a $65.00 price objective on shares of CervoMed in a research note on Thursday, July 25th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $53.60.

CervoMed Stock Down 1.4 %

Shares of NASDAQ CRVO opened at $10.77 on Thursday. CervoMed has a 1 year low of $5.85 and a 1 year high of $26.38. The firm’s 50-day moving average is $13.92 and its 200-day moving average is $16.46.

CervoMed (NASDAQ:CRVO) last issued its earnings results on Tuesday, November 12th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.14). The business had revenue of $1.94 million during the quarter, compared to the consensus estimate 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, analysts predict that CervoMed will post -1.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CRVO. Geode Capital Management LLC raised its holdings in CervoMed by 13.9% during the 3rd quarter. Geode Capital Management LLC now owns 114,934 shares of the company’s stock worth $1,678,000 after buying an additional 14,042 shares during the period. Barclays PLC raised its holdings in CervoMed by 323.6% during the 3rd quarter. Barclays PLC now owns 7,748 shares of the company’s stock worth $113,000 after buying an additional 5,919 shares during the period. State Street Corp raised its holdings in CervoMed by 28.1% during 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 during the period. FMR LLC acquired a new stake in CervoMed during the 3rd quarter worth approximately $56,000. Finally, Citizens Financial Group Inc. RI raised its holdings in CervoMed by 13.2% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 30,509 shares of the company’s stock worth $445,000 after buying an additional 3,553 shares during the period. Institutional investors own 25.15% of the company’s stock.

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.