CervoMed Inc. (NASDAQ:CRVO - Free Report) - Equities researchers at Zacks Small Cap increased their FY2024 earnings estimates for CervoMed in a research report issued to clients and investors on Wednesday, April 10th. Zacks Small Cap analyst D. Bautz now forecasts that the company will post earnings of ($1.13) per share for the year, up from their prior forecast of ($2.67). The consensus estimate for CervoMed's current full-year earnings is ($2.67) per share. Zacks Small Cap also issued estimates for CervoMed's FY2025 earnings at ($1.62) EPS.
A number of other analysts have also commented on the stock. Canaccord Genuity Group assumed coverage on shares of CervoMed in a research note on Thursday, February 15th. They issued a "buy" rating and a $50.00 price target for the company. Canaccord Genuity Group lifted their price target on shares of CervoMed from $50.00 to $65.00 and gave the stock a "buy" rating in a research note on Monday.
Read Our Latest Analysis on CervoMed
CervoMed Stock Performance
Shares of CRVO stock traded down $0.01 during trading hours on Friday, reaching $25.19. The company had a trading volume of 24,249 shares, compared to its average volume of 26,511. The business has a fifty day moving average price of $17.21 and a 200-day moving average price of $11.52. CervoMed has a one year low of $4.14 and a one year high of $26.38.
Institutional Trading of CervoMed
Several large investors have recently added to or reduced their stakes in CRVO. Adage Capital Partners GP L.L.C. bought a new stake in CervoMed during the third quarter valued at approximately $921,000. Rock Springs Capital Management LP bought a new stake in CervoMed during the third quarter valued at approximately $370,000. CWM LLC bought a new stake in CervoMed during the fourth quarter valued at approximately $292,000. Finally, Vanguard Group Inc. bought a new stake in CervoMed during the third quarter valued at approximately $92,000. 25.15% of the stock is currently owned by institutional investors.
CervoMed Company Profile
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CervoMed Inc, a clinical-stage biotechnology company, engages in the development and commercialization of drug treatments for neurodegenerative diseases. It develops neflamapimod, an orally administered small molecule brain penetrant for the treatment of dementia with Lewy bodies (DLB), Alzheimer's diseases, and brain stroke recovery.
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