Nuveen LLC Invests $312,000 in CervoMed Inc. $CRVO

Key Points

• Nuveen LLC has acquired a new position in CervoMed Inc. with an investment of approximately $312,000, representing about 0.39% ownership of the company.
• CervoMed's average analyst rating is "Moderate Buy," with an average target price of $23.71, although it has seen significant rating changes from various brokerages recently.
• The company's share price opened at $10.51, with a significant 52-week range between $1.80 and $20.63, highlighting its volatility in the market.

Nuveen LLC bought a new stake in CervoMed Inc. (NASDAQ:CRVO - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 34,099 shares of the company's stock, valued at approximately $312,000. Nuveen LLC owned approximately 0.39% of CervoMed as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the business. Mariner LLC acquired a new stake in shares of CervoMed during the 4th quarter valued at $30,000. BNP Paribas Financial Markets acquired a new stake in shares of CervoMed during the 4th quarter valued at $32,000. Nuveen Asset Management LLC boosted its holdings in shares of CervoMed by 113.6% during the 4th quarter. Nuveen Asset Management LLC now owns 41,569 shares of the company's stock valued at $97,000 after acquiring an additional 22,104 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of CervoMed during the 4th quarter valued at $175,000. Finally, Rhumbline Advisers boosted its holdings in shares of CervoMed by 35.5% during the 1st quarter. Rhumbline Advisers now owns 5,830 shares of the company's stock valued at $53,000 after acquiring an additional 1,526 shares in the last quarter. Institutional investors and hedge funds own 25.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CRVO shares. D. Boral Capital raised their price objective on CervoMed from $15.00 to $31.00 and gave the company a "buy" rating in a report on Monday, August 18th. Canaccord Genuity Group raised their price objective on CervoMed from $21.00 to $27.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Chardan Capital reissued a "buy" rating and set a $15.00 price objective on shares of CervoMed in a report on Monday, August 11th. HC Wainwright reissued a "neutral" rating and set a $11.00 price objective on shares of CervoMed in a report on Monday. Finally, Roth Capital reissued a "buy" rating and set a $16.00 price objective (down previously from $20.00) on shares of CervoMed in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, CervoMed currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.29.

CervoMed Trading Down 3.4%

NASDAQ:CRVO traded down $0.32 during trading hours on Thursday, hitting $9.20. 130,276 shares of the company were exchanged, compared to its average volume of 112,107. The stock has a market capitalization of $85.10 million, a price-to-earnings ratio of -3.52 and a beta of -0.72. CervoMed Inc. has a one year low of $1.80 and a one year high of $20.63. The company has a fifty day simple moving average of $8.82 and a 200 day simple moving average of $8.13.

CervoMed (NASDAQ:CRVO - Get Free Report) last announced its earnings results 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). The company had revenue of $1.76 million for the quarter, compared to the consensus estimate of $1.45 million. CervoMed had a negative return on equity of 59.15% and a negative net margin of 290.72%. Equities research analysts predict that CervoMed Inc. will post -1.88 earnings per share for the current fiscal year.

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.