CervoMed (NASDAQ:CRVO) Director Sylvie Gregoire Acquires 5,553 Shares of Stock

CervoMed Inc. (NASDAQ:CRVO) Director Sylvie Gregoire acquired 5,553 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was purchased at an average price of $7.35 per share, for a total transaction of $40,814.55. Following the completion of the transaction, the director owned 1,467,131 shares in the company, valued at $10,783,412.85. The trade was a 0.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

CervoMed Price Performance

NASDAQ:CRVO traded up $0.30 during mid-day trading on Friday, reaching $7.55. The company’s stock had a trading volume of 42,120 shares, compared to its average volume of 1,502,431. CervoMed Inc. has a twelve month low of $1.80 and a twelve month high of $16.94. The company’s fifty day simple moving average is $7.94 and its two-hundred day simple moving average is $8.17. The stock has a market cap of $69.86 million, a P/E ratio of -2.89 and a beta of -0.89.

CervoMed (NASDAQ:CRVO) last released its quarterly earnings data on Friday, November 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.16). The business had revenue of $0.32 million during the quarter, compared to analyst estimates of $1.43 million. CervoMed had a negative return on equity of 59.15% and a negative net margin of 290.72%. Sell-side analysts expect that CervoMed Inc. will post -1.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its position in CervoMed by 35.5% during the first quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock worth $53,000 after acquiring an additional 1,526 shares during the period. Marshall Wace LLP acquired a new stake in CervoMed in the 2nd quarter valued at about $76,000. Thompson Davis & CO. Inc. acquired a new stake in CervoMed in the 2nd quarter worth about $88,000. GSA Capital Partners LLP acquired a new position in CervoMed during the 3rd quarter worth approximately $91,000. Finally, HighTower Advisors LLC bought a new stake in shares of CervoMed in the 1st quarter valued at $104,000. 25.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRVO has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CervoMed in a report on Wednesday, October 8th. HC Wainwright upgraded CervoMed from a “neutral” rating to a “buy” rating and upped their price objective for the company from $11.00 to $25.00 in a research note on Wednesday, November 5th. Roth Capital set a $20.00 target price on CervoMed and gave the stock a “buy” rating in a research report on Friday, October 17th. Canaccord Genuity Group raised their target price on shares of CervoMed from $21.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $15.00 price objective on shares of CervoMed in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, CervoMed currently has a consensus rating of “Moderate Buy” and an average price target of $21.86.

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.