CervoMed (NASDAQ:CRVO) Receives Sell (D-) Rating from Weiss Ratings

Key Points

• CervoMed received a "sell (D-)" rating from Weiss Ratings, while other analysts have provided mixed ratings ranging from "Strong Buy" to "Sell".
• The company's stock price reached $8.90 after a 4.3% increase during trading, with a current average target price of $19.29 among analysts.
• CervoMed reported a quarterly loss of ($0.70) earnings per share, missing estimates, but posted revenue of $1.76 million which exceeded analyst expectations.

CervoMed (NASDAQ:CRVO - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other research analysts have also issued reports on the stock. HC Wainwright reaffirmed a "neutral" rating and issued a $11.00 target price on shares of CervoMed in a research note on Monday, September 8th. Chardan Capital reiterated a "buy" rating and set a $15.00 price target on shares of CervoMed in a report on Monday, August 11th. Roth Capital reiterated a "buy" rating and set a $16.00 price objective (down from $20.00) on shares of CervoMed in a research report on Tuesday, August 12th. Canaccord Genuity Group increased their price objective on CervoMed from $21.00 to $27.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Finally, D. Boral Capital increased their price target on shares of CervoMed from $15.00 to $31.00 and gave the company a "buy" rating in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $19.29.

CervoMed Stock Up 4.3%

NASDAQ CRVO traded up $0.37 during trading on Wednesday, hitting $8.90. The stock had a trading volume of 486,555 shares, compared to its average volume of 97,376. The firm has a 50 day moving average price of $9.10 and a 200 day moving average price of $8.55. The company has a market capitalization of $82.33 million, a PE ratio of -3.41 and a beta of -0.84. CervoMed has a twelve month low of $1.80 and a twelve month high of $16.94.

CervoMed (NASDAQ:CRVO - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.13). CervoMed had a negative return on equity of 59.15% and a negative net margin of 290.72%.The firm had revenue of $1.76 million for the quarter, compared to analyst estimates of $1.45 million. On average, sell-side analysts anticipate that CervoMed will post -1.88 earnings per share for the current year.

Institutional Trading of CervoMed

Institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its stake in CervoMed by 35.5% in the 1st quarter. Rhumbline Advisers now owns 5,830 shares of the company's stock valued at $53,000 after purchasing an additional 1,526 shares during the last quarter. HighTower Advisors LLC acquired a new stake in CervoMed in the first quarter valued at approximately $104,000. Marshall Wace LLP acquired a new stake in CervoMed during the 2nd quarter valued at $76,000. Bank of New York Mellon Corp acquired a new stake in CervoMed during the 1st quarter valued at approximately $110,000. Finally, Thompson Davis & CO. Inc. acquired a new stake in shares of CervoMed during the second quarter worth approximately $88,000. Institutional investors and hedge funds own 25.15% of the company's stock.

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.

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