CervoMed Inc. (NASDAQ:CRVO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

CervoMed Inc. (NASDAQ:CRVO) has received a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $25.75.

Several analysts have weighed in on the company. Canaccord Genuity Group dropped their price target on CervoMed from $65.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Chardan Capital upgraded CervoMed from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Thursday. HC Wainwright cut shares of CervoMed from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 17th. Roth Capital raised shares of CervoMed to a “strong-buy” rating in a report on Thursday, December 5th. Finally, Morgan Stanley reissued an “underweight” rating on shares of CervoMed in a report on Wednesday, December 11th.

CervoMed Price Performance

Shares of CRVO opened at $5.79 on Friday. The company’s fifty day moving average price is $2.37 and its 200-day moving average price is $8.18. CervoMed has a 1-year low of $1.80 and a 1-year high of $26.38.

Institutional Trading of CervoMed

Hedge funds have recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI increased its holdings in CervoMed by 13.2% in the third quarter. Citizens Financial Group Inc. RI now owns 30,509 shares of the company’s stock valued at $445,000 after buying an additional 3,553 shares in the last quarter. FMR LLC acquired a new stake in shares of CervoMed during the 3rd quarter valued at about $56,000. Barclays PLC increased its stake in shares of CervoMed by 323.6% in the 3rd quarter. Barclays PLC now owns 7,748 shares of the company’s stock valued at $113,000 after purchasing an additional 5,919 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in CervoMed by 251.8% in the 4th quarter. JPMorgan Chase & Co. now owns 14,464 shares of the company’s stock worth $34,000 after purchasing an additional 10,352 shares during the period. Finally, Virtu Financial LLC acquired a new position in CervoMed in the 4th quarter worth about $26,000. 25.15% of the stock is owned by hedge funds and other institutional investors.

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.