CervoMed (NASDAQ:CRVO - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Monday,Zacks.com reports.
CRVO has been the topic of a number of other reports. Chardan Capital reiterated a "buy" rating and set a $15.00 target price on shares of CervoMed in a report on Monday, August 11th. D. Boral Capital increased their target price on shares of CervoMed from $15.00 to $31.00 and gave the stock a "buy" rating in a report on Monday, August 18th. Roth Capital reiterated a "buy" rating and set a $16.00 target price (down from $20.00) on shares of CervoMed in a report on Tuesday, August 12th. Canaccord Genuity Group increased their target price on shares of CervoMed from $21.00 to $27.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Finally, HC Wainwright reiterated a "neutral" rating and set a $11.00 target price on shares of CervoMed in a report on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $19.29.
View Our Latest Research Report on CRVO
CervoMed Stock Performance
Shares of CRVO stock opened at $8.22 on Monday. The firm's 50 day moving average price is $9.03 and its 200-day moving average price is $8.53. CervoMed has a one year low of $1.80 and a one year high of $16.94. The firm has a market cap of $76.04 million, a P/E ratio of -3.15 and a beta of -0.84.
CervoMed (NASDAQ:CRVO - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The company reported ($0.70) 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 company had revenue of $1.76 million during the quarter, compared to analyst estimates of $1.45 million. As a group, research analysts predict that CervoMed will post -1.88 EPS for the current fiscal year.
Institutional Investors Weigh In On CervoMed
Hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers raised its holdings in shares of 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 in the last quarter. Marshall Wace LLP purchased a new position in shares of CervoMed in the 2nd quarter valued at $76,000. Thompson Davis & CO. Inc. purchased a new position in shares of CervoMed in the 2nd quarter valued at $88,000. HighTower Advisors LLC purchased a new position in shares of CervoMed in the 1st quarter valued at $104,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of CervoMed in the 1st quarter valued at $110,000. 25.15% of the stock is currently owned by institutional investors and hedge funds.
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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