CervoMed (NASDAQ:CRVO) Director Acquires $40,814.55 in Stock

CervoMed Inc. (NASDAQ:CRVO) Director Sylvie Gregoire bought 5,553 shares of CervoMed stock in a transaction dated Wednesday, November 12th. The shares were bought at an average cost of $7.35 per share, for a total transaction of $40,814.55. Following the completion of the acquisition, the director owned 1,467,131 shares in the company, valued at $10,783,412.85. This represents a 0.38% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

CervoMed Stock Performance

Shares of CervoMed stock traded up $0.34 on Thursday, reaching $7.75. 24,710 shares of the stock were exchanged, compared to its average volume of 1,508,847. The firm’s 50 day moving average is $7.99 and its 200-day moving average is $8.18. The firm has a market cap of $71.66 million, a PE ratio of -2.97 and a beta of -0.89. CervoMed Inc. has a one year low of $1.80 and a one year high of $16.94.

CervoMed (NASDAQ:CRVO) last released its 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 59.15% and a negative net margin of 290.72%.The business had revenue of $0.32 million for the quarter, compared to the consensus estimate of $1.43 million. On average, equities research analysts expect that CervoMed Inc. will post -1.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CRVO. Chardan Capital reaffirmed a “buy” rating and issued a $15.00 price objective on shares of CervoMed in a research note on Monday, August 11th. HC Wainwright upgraded CervoMed from a “neutral” rating to a “buy” rating and increased their price objective for the company from $11.00 to $25.00 in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CervoMed in a report on Wednesday, October 8th. Canaccord Genuity Group raised their price objective on CervoMed from $21.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Finally, Roth Capital set a $20.00 target price on shares of CervoMed and gave the company a “buy” rating in a research report on Friday, October 17th. One 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 stock. According to data from MarketBeat.com, CervoMed currently has an average rating of “Moderate Buy” and an average target price of $21.86.

Institutional Investors Weigh In On CervoMed

Hedge funds have recently added to or reduced their stakes in the business. AWM Investment Company Inc. acquired a new stake in shares of CervoMed during the 1st quarter worth approximately $7,898,000. Vanguard Group Inc. raised its holdings in shares of CervoMed by 1.0% during the third quarter. Vanguard Group Inc. now owns 343,463 shares of the company’s stock valued at $2,779,000 after purchasing an additional 3,445 shares during the period. Jane Street Group LLC acquired a new stake in shares of CervoMed in the 2nd quarter valued at about $414,000. Nuveen LLC bought a new stake in CervoMed in the 1st quarter valued at about $312,000. Finally, Citizens Financial Group Inc. RI raised its stake in CervoMed by 14.2% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 30,477 shares of the company’s stock worth $247,000 after buying an additional 3,800 shares during the period. 25.15% of the stock is currently owned by institutional investors.

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.