CervoMed (NASDAQ:CRVO) Stock Rating Upgraded by Jones Trading

CervoMed (NASDAQ:CRVO) was upgraded by stock analysts at Jones Trading from a “hold” rating to a “buy” rating in a note issued to investors on Thursday,Benzinga reports. The firm currently has a $15.00 price target on the stock. Jones Trading’s price target would suggest a potential upside of 139.88% from the stock’s previous close.

CRVO has been the topic of a number of other reports. D. Boral Capital reiterated a “buy” rating and set a $10.00 price objective on shares of CervoMed in a research note on Tuesday. Brookline Capital Management upgraded shares of CervoMed from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Chardan Capital raised shares of CervoMed from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Thursday. Morgan Stanley reiterated an “underweight” rating on shares of CervoMed in a report on Wednesday, December 11th. Finally, HC Wainwright downgraded shares of CervoMed from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $25.75.

CervoMed Stock Up 1.3 %

Shares of CRVO traded up $0.08 during trading hours on Thursday, reaching $6.25. 53,805,930 shares of the company traded hands, compared to its average volume of 4,541,996. CervoMed has a fifty-two week low of $1.80 and a fifty-two week high of $26.38. The stock has a fifty day simple moving average of $2.30 and a 200 day simple moving average of $8.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Citizens Financial Group Inc. RI lifted its holdings in shares of 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 acquiring an additional 3,553 shares during the period. FMR LLC bought a new position in CervoMed during the third quarter worth about $56,000. State Street Corp boosted its holdings in 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 purchasing an additional 22,903 shares in the last quarter. Barclays PLC grew 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 during the period. Finally, Geode Capital Management LLC lifted its position in shares of 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. 25.15% of the stock is owned by 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.