CervoMed (NASDAQ:CRVO) Earns Buy Rating from HC Wainwright

CervoMed (NASDAQ:CRVO)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research report issued to clients and investors on Monday, MarketBeat Ratings reports.

CRVO has been the topic of a number of other research reports. Wall Street Zen upgraded shares of CervoMed from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Chardan Capital upgraded shares of CervoMed to a “strong-buy” rating in a research note on Monday, August 3rd. Roth Capital set a $7.00 price objective on shares of CervoMed in a research note on Thursday, August 20th. Finally, Weiss Ratings lowered shares of CervoMed from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $21.00.

CervoMed Price Performance

Shares of NASDAQ CRVO traded up $0.03 during mid-day trading on Monday, reaching $3.34. 468,430 shares of the company traded hands, compared to its average volume of 1,925,707. CervoMed has a fifty-two week low of $2.13 and a fifty-two week high of $10.00. The firm has a market cap of $50.50 million, a PE ratio of -1.04 and a beta of -0.75. The stock has a fifty day simple moving average of $2.68 and a 200-day simple moving average of $3.21.

CervoMed (NASDAQ:CRVO) last posted its quarterly earnings data on Friday, August 7th. The company reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.22. As a group, analysts predict that CervoMed will post -2.38 EPS for the current fiscal year.

Institutional Trading of CervoMed

Large investors have recently added to or reduced their stakes in the business. Citizens Financial Group Inc. RI bought a new stake in CervoMed during the second quarter worth approximately $116,000. Byrne Asset Management LLC boosted its holdings in CervoMed by 248.6% during the second quarter. Byrne Asset Management LLC now owns 51,250 shares of the company’s stock worth $159,000 after buying an additional 36,550 shares in the last quarter. BlackRock Inc. bought a new stake in CervoMed during the second quarter worth approximately $167,000. Renaissance Technologies LLC bought a new stake in CervoMed during the first quarter worth approximately $252,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in CervoMed by 8,425,900.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 84,260 shares of the company’s stock worth $666,000 after buying an additional 84,259 shares in the last quarter. 25.15% of the stock is currently owned by institutional investors.

CervoMed Company Profile

CervoMed Inc (NASDAQ: CRVO) is a clinical-stage biopharmaceutical company focused on developing treatments for neurodegenerative diseases. The company’s research programs are aimed at addressing conditions involving cognitive impairment and other neurological dysfunction.

CervoMed’s lead investigational product is neflamapimod, an orally administered, selective inhibitor of the p38 alpha enzyme. The company is evaluating neflamapimod as a potential treatment for dementia with Lewy bodies, a progressive neurodegenerative disorder associated with cognitive, behavioral and movement-related symptoms.