CervoMed (NASDAQ:CRVO) Director Sylvie Gregoire Buys 10,807 Shares

CervoMed Inc. (NASDAQ:CRVO) Director Sylvie Gregoire purchased 10,807 shares of CervoMed stock in a transaction dated Monday, November 17th. The shares were purchased at an average cost of $8.46 per share, for a total transaction of $91,427.22. Following the completion of the transaction, the director owned 12,500 shares of the company’s stock, valued at approximately $105,750. This represents a 638.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Sylvie Gregoire also recently made the following trade(s):

• On Monday, November 17th, Sylvie Gregoire bought 10,793 shares of CervoMed stock. The shares were acquired at an average cost of $8.46 per share, with a total value of $91,308.78.
• On Friday, November 14th, Sylvie Gregoire acquired 1,693 shares of CervoMed stock. The shares were bought at an average price of $7.55 per share, for a total transaction of $12,782.15.
• On Friday, November 14th, Sylvie Gregoire purchased 1,707 shares of CervoMed stock. The stock was purchased at an average cost of $7.57 per share, for a total transaction of $12,921.99.
• On Thursday, November 13th, Sylvie Gregoire bought 4,447 shares of CervoMed stock. The shares were acquired at an average price of $7.51 per share, with a total value of $33,396.97.
• On Wednesday, November 12th, Sylvie Gregoire purchased 5,553 shares of CervoMed stock. The shares were acquired at an average cost of $7.35 per share, for a total transaction of $40,814.55.

CervoMed Stock Up 5.7%

Shares of CervoMed stock opened at $8.78 on Wednesday. CervoMed Inc. has a 12-month low of $1.80 and a 12-month high of $16.94. The business’s 50 day moving average is $7.81 and its 200-day moving average is $8.11. The stock has a market cap of $81.20 million, a P/E ratio of -3.36 and a beta of -0.89.

CervoMed (NASDAQ:CRVO) last issued its earnings results on Friday, November 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.16). The firm had revenue of $0.32 million for 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%. On average, sell-side analysts expect that CervoMed Inc. will post -1.88 EPS for the current year.

Hedge Funds Weigh In On CervoMed

Institutional investors have recently modified their holdings of the business. Rhumbline Advisers raised its position in CervoMed by 35.5% in 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. GSA Capital Partners LLP bought a new position in CervoMed in the 3rd quarter worth about $91,000. HighTower Advisors LLC purchased a new stake in CervoMed in the 1st quarter worth approximately $104,000. Marshall Wace LLP purchased a new stake in shares of CervoMed in the second quarter worth $76,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of CervoMed during the first quarter worth about $110,000. 25.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CRVO has been the subject of several research reports. HC Wainwright raised CervoMed from a “neutral” rating to a “buy” rating and raised their price target for the company from $11.00 to $25.00 in a report on Wednesday, November 5th. Chardan Capital restated a “buy” rating and issued a $15.00 target price on shares of CervoMed in a research report on Monday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of CervoMed in a research report on Wednesday, October 8th. Canaccord Genuity Group boosted 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, D. Boral Capital reaffirmed a “buy” rating and set a $31.00 target price on shares of CervoMed in a report on Tuesday, November 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.86.

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.