CervoMed (NASDAQ:CRVO) Earns Neutral Rating from Chardan Capital

CervoMed (NASDAQ:CRVO)‘s stock had its “neutral” rating restated by equities researchers at Chardan Capital in a research report issued on Wednesday, Marketbeat.com reports.

Several other analysts have also commented on CRVO. D. Boral Capital reaffirmed a “hold” rating on shares of CervoMed in a report on Tuesday. Roth Mkm started coverage on shares of CervoMed in a research note on Friday, December 6th. They set a “buy” rating and a $45.00 price objective on the stock. Roth Capital upgraded shares of CervoMed to a “strong-buy” rating in a research note on Thursday, December 5th. Finally, HC Wainwright assumed coverage on shares of CervoMed in a report on Thursday, December 5th. They set a “buy” rating and a $42.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, CervoMed currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

CervoMed Stock Performance

Shares of NASDAQ CRVO opened at $1.93 on Wednesday. The company has a 50 day simple moving average of $11.51 and a two-hundred day simple moving average of $14.76. CervoMed has a 12 month low of $1.83 and a 12 month high of $26.38.

CervoMed (NASDAQ:CRVO) last posted its 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 analyst estimates of $1.75 million. CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%. Equities research analysts forecast that CervoMed will post -1.76 earnings per share for the current year.

Hedge Funds Weigh In On CervoMed

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CRVO. Renaissance Technologies LLC increased its stake in shares of CervoMed by 5.2% during the second quarter. Renaissance Technologies LLC now owns 32,333 shares of the company’s stock worth $554,000 after purchasing an additional 1,600 shares in the last quarter. Fred Alger Management LLC acquired a new stake in CervoMed in the 2nd quarter worth about $60,000. Citizens Financial Group Inc. RI increased its stake 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 in the last quarter. FMR LLC acquired a new position in shares of CervoMed during the third quarter valued at approximately $56,000. Finally, Rhumbline Advisers purchased a new position in shares of CervoMed in the second quarter valued at approximately $96,000. 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.