CervoMed (NASDAQ:CRVO) Upgraded at Chardan Capital

Chardan Capital upgraded shares of CervoMed (NASDAQ:CRVO) from a neutral rating to a buy rating in a report issued on Thursday morning, MarketBeat Ratings reports. Chardan Capital currently has $14.00 target price on the stock.

Several other analysts also recently issued reports on the company. Brookline Capital Management raised CervoMed from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 11th. Roth Capital upgraded CervoMed to a “strong-buy” rating in a report on Thursday, December 5th. D. Boral Capital restated a “buy” rating and issued a $10.00 price objective on shares of CervoMed in a report on Tuesday, March 11th. Morgan Stanley restated an “underweight” rating on shares of CervoMed in a report on Wednesday, December 11th. Finally, Roth Mkm raised their price objective on CervoMed from $7.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.75.

CervoMed Price Performance

CRVO opened at $6.44 on Thursday. The business’s 50-day moving average price is $2.45 and its two-hundred day moving average price is $8.04. CervoMed has a 1 year low of $1.80 and a 1 year high of $26.38.

Hedge Funds Weigh In On CervoMed

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its holdings in CervoMed by 13.9% during the third quarter. Geode Capital Management LLC now owns 114,934 shares of the company’s stock worth $1,678,000 after purchasing an additional 14,042 shares during the period. State Street Corp lifted its position in CervoMed by 28.1% during the third quarter. State Street Corp now owns 104,456 shares of the company’s stock worth $1,525,000 after acquiring an additional 22,903 shares during the last quarter. Woodline Partners LP acquired a new stake in CervoMed during the fourth quarter worth approximately $175,000. Perigon Wealth Management LLC acquired a new stake in CervoMed during the fourth quarter worth approximately $147,000. Finally, Nuveen Asset Management LLC lifted its position in CervoMed by 113.6% during the fourth quarter. Nuveen Asset Management LLC now owns 41,569 shares of the company’s stock worth $97,000 after acquiring an additional 22,104 shares during the last quarter. Institutional investors own 25.15% of the company’s stock.

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.