Shares of CervoMed Inc. (NASDAQ:CRVO - Get Free Report) have been assigned a consensus rating of "Hold" from the eleven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $19.8571.
CRVO has been the subject of several research reports. Chardan Capital reissued a "buy" rating and set a $15.00 price objective on shares of CervoMed in a research note on Monday, August 11th. Roth Capital set a $20.00 price objective on CervoMed and gave the stock a "buy" rating in a research note on Friday. Zacks Research lowered CervoMed from a "hold" rating to a "strong sell" rating in a research note on Monday, October 13th. Canaccord Genuity Group raised their price objective on CervoMed from $21.00 to $27.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of CervoMed in a research note on Wednesday, October 8th.
View Our Latest Analysis on CRVO
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the business. Perigon Wealth Management LLC grew its holdings in shares of CervoMed by 66.0% during the third quarter. Perigon Wealth Management LLC now owns 28,731 shares of the company's stock valued at $232,000 after buying an additional 11,425 shares in the last quarter. Thompson Davis & CO. Inc. purchased a new position in shares of CervoMed during the second quarter valued at $88,000. Jane Street Group LLC purchased a new position in shares of CervoMed during the second quarter valued at $414,000. Marshall Wace LLP purchased a new position in shares of CervoMed during the second quarter valued at $76,000. Finally, Rhumbline Advisers grew its holdings in shares of CervoMed by 35.5% during the first quarter. Rhumbline Advisers now owns 5,830 shares of the company's stock valued at $53,000 after buying an additional 1,526 shares in the last quarter. Hedge funds and other institutional investors own 25.15% of the company's stock.
CervoMed Stock Performance
Shares of NASDAQ CRVO opened at $7.08 on Friday. The stock has a fifty day moving average price of $8.90 and a two-hundred day moving average price of $8.49. The firm has a market cap of $65.49 million, a P/E ratio of -2.71 and a beta of -0.84. CervoMed has a 1 year low of $1.80 and a 1 year high of $16.94.
CervoMed (NASDAQ:CRVO - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.57) by ($0.13). The firm had revenue of $1.76 million for the quarter, compared to the consensus estimate of $1.45 million. CervoMed had a negative net margin of 290.72% and a negative return on equity of 59.15%. On average, research analysts predict that CervoMed will post -1.88 earnings per share for the current fiscal year.
About CervoMed
(
Get Free Report)
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.
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