CervoMed (CRVO) – Investment Analysts’ Recent Ratings Updates

CervoMed (NASDAQ: CRVO) has recently received a number of price target changes and ratings updates:

• 12/17/2024 – CervoMed was downgraded by analysts at HC Wainwright from a “buy” rating to a “neutral” rating.
• 12/11/2024 – CervoMed had its “underweight” rating reaffirmed by analysts at Morgan Stanley.
• 12/11/2024 – CervoMed had its “neutral” rating reaffirmed by analysts at Chardan Capital.
• 12/11/2024 – CervoMed had its price target lowered by analysts at Canaccord Genuity Group Inc. from $65.00 to $12.00. They now have a “buy” rating on the stock.
• 12/10/2024 – CervoMed was downgraded by analysts at Brookline Capital Management from a “strong-buy” rating to a “hold” rating.
• 12/10/2024 – CervoMed had its “hold” rating reaffirmed by analysts at D. Boral Capital.
• 12/6/2024 – CervoMed is now covered by analysts at Roth Mkm. They set a “buy” rating and a $45.00 price target on the stock.
• 12/5/2024 – CervoMed was upgraded by analysts at Roth Capital to a “strong-buy” rating.
• 12/5/2024 – CervoMed is now covered by analysts at HC Wainwright. They set a “buy” rating and a $42.00 price target on the stock.
• 11/27/2024 – CervoMed had its “buy” rating reaffirmed by analysts at D. Boral Capital. They now have a $34.00 price target on the stock.
• 11/14/2024 – CervoMed had its “buy” rating reaffirmed by analysts at Chardan Capital. They now have a $55.00 price target on the stock.

CervoMed Price Performance

NASDAQ:CRVO opened at $2.34 on Wednesday. The company’s 50 day moving average is $8.35 and its two-hundred day moving average is $13.04. CervoMed Inc. has a twelve month low of $1.80 and a twelve month high of $26.38.

CervoMed (NASDAQ:CRVO) last announced 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 return on equity of 44.11% and a negative net margin of 118.68%. The firm 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 Inc. will post -1.77 earnings per share for the current fiscal year.

Institutional Trading of CervoMed

Hedge funds have recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI purchased a new position in CervoMed during the second quarter worth approximately $461,000. State Street Corp lifted its position in shares of CervoMed by 28.1% during the 3rd quarter. State Street Corp now owns 104,456 shares of the company’s stock valued at $1,525,000 after buying an additional 22,903 shares in the last quarter. Geode Capital Management LLC grew its stake in CervoMed by 13.9% in the 3rd quarter. Geode Capital Management LLC now owns 114,934 shares of the company’s stock valued at $1,678,000 after acquiring an additional 14,042 shares during the period. Bank of New York Mellon Corp purchased a new stake in CervoMed in the 2nd quarter worth $236,000. Finally, Barclays PLC raised its position 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 acquiring an additional 5,919 shares during the period. 25.15% of the stock is owned by hedge funds and other institutional investors.

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.