CervoMed (CRVO) – Analysts’ Recent Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of CervoMed (NASDAQ: CRVO) in the last few weeks:

• 12/11/2024 – CervoMed had its “underweight” rating reaffirmed by analysts at Morgan Stanley.
• 12/11/2024 – CervoMed had its “neutral” rating reaffirmed by analysts at Chardan Capital.
• 12/10/2024 – CervoMed had its “hold” rating reaffirmed by analysts at D. Boral Capital.
• 12/6/2024 – CervoMed is now covered by analysts at Roth Mkm. They set a “buy” rating and a $45.00 price target on the stock.
• 12/5/2024 – CervoMed was upgraded by analysts at Roth Capital to a “strong-buy” rating.
• 12/5/2024 – CervoMed is now covered by analysts at HC Wainwright. They set a “buy” rating and a $42.00 price target on the stock.
• 11/27/2024 – CervoMed had its “buy” rating reaffirmed by analysts at D. Boral Capital. They now have a $34.00 price target on the stock.
• 11/14/2024 – CervoMed had its “buy” rating reaffirmed by analysts at Chardan Capital. They now have a $55.00 price target on the stock.

CervoMed Stock Down 78.9 %

CRVO opened at $2.16 on Wednesday. The company has a fifty day moving average of $11.99 and a 200 day moving average of $14.97. CervoMed Inc. has a fifty-two week low of $2.11 and a fifty-two week high of $26.38.

CervoMed (NASDAQ:CRVO) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.14). The business had revenue of $1.94 million for 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%. Sell-side analysts predict that CervoMed Inc. will post -1.74 earnings per share for the current year.

Institutional Trading of CervoMed

A number of hedge funds and other institutional investors have recently bought and sold shares of CRVO. Fred Alger Management LLC purchased a new position in CervoMed in the 2nd quarter worth about $60,000. FMR LLC purchased a new position in shares of CervoMed during the third quarter worth approximately $56,000. Rhumbline Advisers bought a new stake in shares of CervoMed during the second quarter valued at approximately $96,000. Barclays PLC boosted its holdings in shares of CervoMed by 323.6% in the third 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, Bank of New York Mellon Corp purchased a new stake in shares of CervoMed in the second quarter valued at approximately $236,000. Hedge funds and other institutional investors own 25.15% of the company’s stock.

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.