CervoMed (NASDAQ:CRVO) Raised to “Buy” at Chardan Capital

CervoMed (NASDAQ:CRVO) was upgraded by Chardan Capital from a “neutral” rating to a “buy” rating in a research note issued on Thursday,Briefing.com Automated Import reports. The brokerage presently has a $14.00 price target on the stock. Chardan Capital’s price objective indicates a potential upside of 126.90% from the company’s previous close.

A number of other equities research analysts also recently issued reports on CRVO. Brookline Capital Management upgraded shares of CervoMed from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Morgan Stanley reiterated an “underweight” rating on shares of CervoMed in a research report on Wednesday, December 11th. Roth Mkm lifted their price target on shares of CervoMed from $7.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday. Canaccord Genuity Group reduced their price target on shares of CervoMed from $65.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Finally, Roth Capital raised CervoMed to a “strong-buy” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.29.

CervoMed Stock Performance

Shares of NASDAQ:CRVO opened at $6.17 on Thursday. CervoMed has a 52 week low of $1.80 and a 52 week high of $26.38. The company has a 50-day moving average price of $2.30 and a 200 day moving average price of $8.20.

Institutional Investors Weigh In On CervoMed

Several hedge funds have recently modified their holdings of CRVO. Virtu Financial LLC purchased a new stake in shares of CervoMed during the 4th quarter valued at about $26,000. DRW Securities LLC purchased a new stake in CervoMed during the 4th quarter worth approximately $30,000. Mariner LLC acquired a new position in shares of CervoMed in the 4th quarter worth approximately $30,000. BNP Paribas Financial Markets acquired a new position in shares of CervoMed in the 4th quarter worth approximately $32,000. Finally, JPMorgan Chase & Co. grew its position in shares of CervoMed by 251.8% in the 4th quarter. JPMorgan Chase & Co. now owns 14,464 shares of the company’s stock worth $34,000 after acquiring an additional 10,352 shares in the last quarter. 25.15% of the stock is currently 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.