CervoMed Inc. (NASDAQ:CRVO) Stock Has Average Target Price of $21.00

Shares of CervoMed Inc. (NASDAQ:CRVO) have earned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $21.00.

Several research firms recently issued reports on CRVO. Roth Capital set a $7.00 price target on shares of CervoMed in a report on Thursday, August 20th. Wall Street Zen raised CervoMed from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings cut CervoMed from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, September 3rd. Chardan Capital raised CervoMed to a “strong-buy” rating in a research note on Monday, August 3rd. Finally, HC Wainwright reissued a “buy” rating on shares of CervoMed in a report on Monday.

Institutional Investors Weigh In On CervoMed

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. grew its position in CervoMed by 8,425,900.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 84,260 shares of the company’s stock worth $666,000 after buying an additional 84,259 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of CervoMed during the 1st quarter valued at approximately $252,000. BlackRock Inc. purchased a new stake in shares of CervoMed during the 2nd quarter worth approximately $167,000. Citizens Financial Group Inc. RI purchased a new stake in shares of CervoMed during the 2nd quarter worth approximately $116,000. Finally, Byrne Asset Management LLC grew its holdings in shares of CervoMed by 248.6% in the 2nd quarter. Byrne Asset Management LLC now owns 51,250 shares of the company’s stock worth $159,000 after acquiring an additional 36,550 shares during the period. Institutional investors and hedge funds own 25.15% of the company’s stock.

CervoMed Stock Performance

Shares of CRVO opened at $3.31 on Friday. The stock has a market capitalization of $50.05 million, a P/E ratio of -1.03 and a beta of -0.75. The company’s fifty day moving average is $2.66 and its two-hundred day moving average is $3.21. CervoMed has a 1 year low of $2.13 and a 1 year high of $10.00.

CervoMed (NASDAQ:CRVO) last announced its quarterly earnings data on Friday, August 7th. The company reported ($0.64) EPS for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.22. Sell-side analysts predict that CervoMed will post -2.38 EPS for the current year.

About CervoMed

CervoMed Inc (NASDAQ: CRVO) is a clinical-stage biopharmaceutical company focused on developing treatments for neurodegenerative diseases. The company’s research is centered on therapies that address cognitive and functional impairment associated with disorders of the central nervous system.

CervoMed’s lead product candidate is neflamapimod, an orally administered, small-molecule inhibitor of p38 alpha mitogen-activated protein kinase. The company is evaluating neflamapimod as a potential treatment for dementia with Lewy bodies, a progressive neurodegenerative disorder characterized by cognitive decline, fluctuations in attention, visual hallucinations and movement-related symptoms.