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

Shares of CervoMed Inc. (NASDAQ:CRVO) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $21.00.

Several equities research analysts recently weighed in on the company. Wall Street Zen upgraded CervoMed from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. HC Wainwright reaffirmed a “buy” rating on shares of CervoMed in a research note on Monday, October 5th. Chardan Capital upgraded CervoMed to a “strong-buy” rating in a report on Monday, August 3rd. Roth Capital set a $7.00 price objective on CervoMed in a report on Thursday, August 20th. Finally, Weiss Ratings lowered CervoMed from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, September 3rd.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. NFSG Corp boosted its stake in CervoMed by 283.3% during the third quarter. NFSG Corp now owns 11,500 shares of the company’s stock worth $34,000 after acquiring an additional 8,500 shares in the last quarter. Citizens Financial Group Inc. RI bought a new position in shares of CervoMed during the second quarter valued at approximately $116,000. Byrne Asset Management LLC increased its stake in shares of CervoMed by 248.6% during the second quarter. Byrne Asset Management LLC now owns 51,250 shares of the company’s stock valued at $159,000 after purchasing an additional 36,550 shares in the last quarter. BlackRock Inc. bought a new position in shares of CervoMed during the second quarter valued at approximately $167,000. Finally, Renaissance Technologies LLC purchased a new position in shares of CervoMed during the first quarter valued at approximately $252,000. 25.15% of the stock is owned by hedge funds and other institutional investors.

CervoMed Stock Performance

CervoMed stock opened at $2.22 on Wednesday. The stock’s 50 day simple moving average is $2.60 and its two-hundred day simple moving average is $3.63. The stock has a market cap of $33.56 million, a price-to-earnings ratio of -0.69 and a beta of -0.75. CervoMed has a fifty-two week low of $2.13 and a fifty-two week high of $10.00.

CervoMed (NASDAQ:CRVO) last posted its earnings results on Friday, August 7th. The company reported ($0.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.22. On average, analysts predict that CervoMed will post -2.38 earnings per share for the current year.

CervoMed Company Profile

CervoMed Inc is a clinical-stage biopharmaceutical company focused on developing treatments for neurodegenerative diseases. The company’s lead investigational product is neflamapimod, an orally administered, brain-penetrant small-molecule inhibitor of p38 alpha, an enzyme believed to play a role in neuroinflammation and cognitive decline.

CervoMed is primarily evaluating neflamapimod as a potential treatment for dementia with Lewy bodies, a progressive neurological disorder associated with cognitive impairment, fluctuations in attention, visual hallucinations and movement symptoms.