CervoMed (NASDAQ:CRVO) Insider Purchases $11,925.00 in Stock

CervoMed Inc. (NASDAQ:CRVO) insider Matthew Winton bought 1,500 shares of CervoMed stock in a transaction dated Tuesday, November 18th. The stock was acquired at an average price of $7.95 per share, with a total value of $11,925.00. Following the completion of the transaction, the insider directly owned 15,000 shares of the company’s stock, valued at approximately $119,250. The trade was a 11.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Matthew Winton also recently made the following trade(s):

• On Monday, November 17th, Matthew Winton purchased 3,500 shares of CervoMed stock. The shares were acquired at an average price of $8.43 per share, for a total transaction of $29,505.00.
• On Friday, November 14th, Matthew Winton acquired 10,000 shares of CervoMed stock. The shares were acquired at an average cost of $7.57 per share, with a total value of $75,700.00.

CervoMed Trading Down 1.4%

CRVO stock opened at $8.88 on Friday. The company has a market cap of $82.17 million, a price-to-earnings ratio of -3.40 and a beta of -0.89. CervoMed Inc. has a 12 month low of $1.80 and a 12 month high of $16.94. The firm has a 50-day moving average of $7.79 and a two-hundred day moving average of $8.12.

CervoMed (NASDAQ:CRVO) last issued its earnings results on Friday, November 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.16). CervoMed had a negative return on equity of 59.15% and a negative net margin of 290.72%.The company had revenue of $0.32 million for the quarter, compared to analyst estimates of $1.43 million. As a group, equities analysts forecast that CervoMed Inc. will post -1.88 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on CRVO shares. HC Wainwright raised CervoMed from a “neutral” rating to a “buy” rating and raised their target price for the stock from $11.00 to $25.00 in a research note on Wednesday, November 5th. Zacks Research lowered shares of CervoMed from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Roth Capital set a $20.00 target price on shares of CervoMed and gave the stock a “buy” rating in a research note on Friday, October 17th. Canaccord Genuity Group increased their price target on shares of CervoMed from $21.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of CervoMed in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Sell rating to the company. According to data from MarketBeat.com, CervoMed has a consensus rating of “Moderate Buy” and a consensus target price of $21.86.

Institutional Investors Weigh In On CervoMed

A number of institutional investors have recently modified their holdings of CRVO. AWM Investment Company Inc. purchased a new stake in shares of CervoMed in the 1st quarter valued at $7,898,000. Jane Street Group LLC acquired a new position in CervoMed in the 2nd quarter valued at about $414,000. Nuveen LLC acquired a new position in CervoMed in the 1st quarter valued at about $312,000. Citadel Advisors LLC purchased a new stake in CervoMed during the third quarter worth about $247,000. Finally, Citizens Financial Group Inc. RI acquired a new stake in shares of CervoMed during the first quarter worth about $244,000. 25.15% of the stock is owned by institutional investors and hedge funds.

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.