CervoMed (NASDAQ:CRVO) Posts Earnings Results, Misses Estimates By $0.09 EPS

CervoMed (NASDAQ:CRVO) posted its earnings results on Friday. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.79) by ($0.09), FiscalAI reports. CervoMed had a negative net margin of 415.27% and a negative return on equity of 76.78%. The business had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.84 million.

CervoMed Trading Down 1.8%

CRVO stock traded down $0.08 during trading on Friday, reaching $4.25. The stock had a trading volume of 52,760 shares, compared to its average volume of 93,274. CervoMed has a 1-year low of $3.58 and a 1-year high of $16.94. The company has a market capitalization of $39.31 million, a P/E ratio of -1.47 and a beta of -0.77. The firm has a fifty day moving average price of $5.56 and a 200 day moving average price of $7.37.

Institutional Trading of CervoMed

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of CervoMed by 1.0% during the third quarter. Vanguard Group Inc. now owns 343,463 shares of the company’s stock worth $2,779,000 after acquiring an additional 3,445 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of CervoMed in the second quarter worth about $414,000. Citadel Advisors LLC purchased a new position in CervoMed in the third quarter valued at about $247,000. AQR Capital Management LLC acquired a new stake in CervoMed during the 1st quarter valued at approximately $227,000. Finally, State Street Corp grew its stake in CervoMed by 11.4% during the 4th quarter. State Street Corp now owns 20,527 shares of the company’s stock valued at $162,000 after purchasing an additional 2,100 shares in the last quarter. 25.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Chardan Capital reiterated a “buy” rating and issued a $15.00 price target on shares of CervoMed in a report on Thursday, March 5th. Weiss Ratings restated a “sell (d-)” rating on shares of CervoMed in a research note on Wednesday, January 21st. Cantor Fitzgerald began coverage on CervoMed in a research report on Thursday, December 18th. They issued an “overweight” rating for the company. Brookline Capital Acquisition upgraded CervoMed to a “strong-buy” rating in a report on Tuesday, February 3rd. Finally, Zacks Research raised CervoMed from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.60.

CervoMed Company Profile

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. The company also develops EIP200 for central nervous system which is in preclinical trials. CervoMed Inc was founded in 2010 and is headquartered in Boston, Massachusetts.