CervoMed’s (CRVO) “Buy” Rating Reiterated at D. Boral Capital

D. Boral Capital restated their buy rating on shares of CervoMed (NASDAQ:CRVO) in a report issued on Tuesday morning,Benzinga reports. D. Boral Capital currently has a $31.00 target price on the stock.

Other equities analysts have also issued reports about the company. Zacks Research lowered CervoMed from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of CervoMed in a research note on Wednesday, October 8th. Roth Capital set a $20.00 target price on shares of CervoMed and gave the stock a “buy” rating in a research note on Friday, October 17th. Chardan Capital reiterated a “buy” rating and set a $15.00 price target on shares of CervoMed in a report on Monday, August 11th. Finally, HC Wainwright raised shares of CervoMed from a “neutral” rating to a “buy” rating and raised their price target for the stock from $11.00 to $25.00 in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, CervoMed has a consensus rating of “Moderate Buy” and an average price target of $21.86.

CervoMed Stock Performance

Shares of CervoMed stock opened at $9.06 on Tuesday. CervoMed has a 52-week low of $1.80 and a 52-week high of $16.94. The company has a fifty day moving average of $8.00 and a 200-day moving average of $8.15. The stock has a market capitalization of $83.81 million, a price-to-earnings ratio of -3.12 and a beta of -0.91.

CervoMed (NASDAQ:CRVO) last posted its quarterly earnings results on Friday, November 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.16). CervoMed had a negative return on equity of 76.78% and a negative net margin of 415.27%.The business had revenue of $0.32 million during the quarter, compared to the consensus estimate of $1.43 million. On average, equities research analysts forecast that CervoMed will post -1.88 earnings per share for the current fiscal year.

Insider Buying and Selling at CervoMed

In related news, Director Sylvie Gregoire acquired 10,807 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was acquired at an average cost of $8.46 per share, for a total transaction of $91,427.22. Following the acquisition, the director owned 12,500 shares of the company’s stock, valued at $105,750. This trade represents a 638.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Matthew Winton bought 10,000 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was bought at an average cost of $7.57 per share, with a total value of $75,700.00. Following the completion of the transaction, the insider owned 10,000 shares in the company, valued at approximately $75,700. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have purchased 92,000 shares of company stock valued at $737,723. 35.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CRVO. AWM Investment Company Inc. purchased a new position in shares of CervoMed in the 1st quarter valued at approximately $7,898,000. Jane Street Group LLC purchased a new position in CervoMed during the second quarter valued at $414,000. Nuveen LLC purchased a new position in CervoMed during the first quarter valued at $312,000. Citadel Advisors LLC bought a new stake in shares of CervoMed during the 3rd quarter valued at $247,000. Finally, Citizens Financial Group Inc. RI purchased a new stake in shares of CervoMed in the 1st quarter worth about $244,000. 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.