CervoMed (NASDAQ:CRVO) Rating Lowered to Hold at Brookline Capital Management

Brookline Capital Management lowered shares of CervoMed (NASDAQ:CRVO) from a strong-buy rating to a hold rating in a report published on Tuesday,Zacks.com reports.

Several other research firms have also commented on CRVO. Roth Mkm initiated coverage on shares of CervoMed in a research note on Friday, December 6th. They set a “buy” rating and a $45.00 price objective for the company. D. Boral Capital reiterated a “hold” rating on shares of CervoMed in a research note on Tuesday. HC Wainwright initiated coverage on shares of CervoMed in a research note on Thursday, December 5th. They set a “buy” rating and a $42.00 price objective for the company. Canaccord Genuity Group dropped their target price on shares of CervoMed from $65.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Roth Capital raised shares of CervoMed to a “strong-buy” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CervoMed currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

CervoMed Stock Down 1.0 %

CRVO stock opened at $1.93 on Tuesday. CervoMed has a 12 month low of $1.83 and a 12 month high of $26.38. The company has a 50-day moving average price of $11.51 and a 200 day moving average price of $14.76.

CervoMed (NASDAQ:CRVO) last released its quarterly earnings data 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). CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%. The company had revenue of $1.94 million during the quarter, compared to analysts’ expectations of $1.75 million. As a group, research analysts forecast that CervoMed will post -1.74 earnings per share for the current fiscal year.

Institutional Trading of CervoMed

Several large investors have recently made changes to their positions in CRVO. FMR LLC purchased a new stake in shares of CervoMed in the 3rd quarter valued at $56,000. Fred Alger Management LLC purchased a new stake in CervoMed during the second quarter worth $60,000. Rhumbline Advisers purchased a new stake in CervoMed during the second quarter worth $96,000. Barclays PLC boosted its holdings in CervoMed by 323.6% during the third quarter. Barclays PLC now owns 7,748 shares of the company’s stock worth $113,000 after buying an additional 5,919 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in CervoMed during the second quarter worth $236,000. 25.15% of the stock is owned by hedge funds and other institutional investors.

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.