CervoMed (NASDAQ:CRVO) Receives Hold Rating from D. Boral Capital

D. Boral Capital reissued their hold rating on shares of CervoMed (NASDAQ:CRVO) in a report issued on Tuesday, Marketbeat.com reports.

CRVO has been the topic of several other reports. Roth Mkm assumed coverage on shares of CervoMed in a research note on Friday, December 6th. They issued a “buy” rating and a $45.00 price target on the stock. Chardan Capital reaffirmed a “buy” rating and set a $55.00 target price on shares of CervoMed in a report on Thursday, November 14th. HC Wainwright initiated coverage on CervoMed in a research note on Thursday, December 5th. They issued a “buy” rating and a $42.00 price target for the company. Finally, Roth Capital upgraded CervoMed to a “strong-buy” rating in a research note on Thursday, December 5th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $48.63.

CervoMed Stock Performance

Shares of CRVO stock opened at $2.16 on Tuesday. CervoMed has a 12-month low of $2.11 and a 12-month high of $26.38. The firm has a 50 day moving average price of $11.99 and a two-hundred day moving average price of $14.97.

CervoMed (NASDAQ:CRVO) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.14). The firm had revenue of $1.94 million during the quarter, compared to the consensus estimate of $1.75 million. CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%. As a group, equities analysts anticipate that CervoMed will post -1.74 EPS for the current year.

Institutional Investors Weigh In On CervoMed

Large investors have recently modified their holdings of the business. Renaissance Technologies LLC grew its position in CervoMed by 5.2% in the second quarter. Renaissance Technologies LLC now owns 32,333 shares of the company’s stock valued at $554,000 after acquiring an additional 1,600 shares during the last quarter. Fred Alger Management LLC bought a new stake in CervoMed during the 2nd quarter worth $60,000. Citizens Financial Group Inc. RI raised its position in CervoMed by 13.2% in the third quarter. Citizens Financial Group Inc. RI now owns 30,509 shares of the company’s stock valued at $445,000 after purchasing an additional 3,553 shares during the last quarter. FMR LLC bought a new position in CervoMed in the third quarter valued at about $56,000. Finally, Rhumbline Advisers acquired a new stake in shares of CervoMed during the second quarter valued at about $96,000. Institutional investors and hedge funds own 25.15% of the company’s stock.

CervoMed Company Profile

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.