CervoMed (NASDAQ:CRVO) Insider Matthew Winton Buys 1,500 Shares

CervoMed Inc. (NASDAQ:CRVO) insider Matthew Winton acquired 1,500 shares of CervoMed stock in a transaction that occurred on Tuesday, November 18th. The stock was purchased at an average price of $7.95 per share, with a total value of $11,925.00. Following the transaction, the insider owned 15,000 shares of the company’s stock, valued at $119,250. This trade represents a 11.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Matthew Winton also recently made the following trade(s):

• On Monday, November 17th, Matthew Winton purchased 3,500 shares of CervoMed stock. The stock was acquired at an average price of $8.43 per share, for a total transaction of $29,505.00.
• On Friday, November 14th, Matthew Winton purchased 10,000 shares of CervoMed stock. The shares were bought at an average cost of $7.57 per share, for a total transaction of $75,700.00.

CervoMed Price Performance

Shares of NASDAQ:CRVO opened at $8.78 on Wednesday. The business’s 50 day simple moving average is $7.81 and its 200-day simple moving average is $8.11. The firm has a market capitalization of $81.20 million, a price-to-earnings ratio of -3.36 and a beta of -0.89. CervoMed Inc. has a 12 month low of $1.80 and a 12 month high of $16.94.

CervoMed (NASDAQ:CRVO) last released its quarterly earnings results on Friday, November 7th. The company reported ($0.84) earnings per share (EPS) 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 firm had revenue of $0.32 million for the quarter, compared to analyst estimates of $1.43 million. On average, equities analysts anticipate that CervoMed Inc. will post -1.88 earnings per share for the current year.

Hedge Funds Weigh In On CervoMed

Several institutional investors and hedge funds have recently made changes to their positions in the business. AWM Investment Company Inc. bought a new position in shares of CervoMed during the first quarter worth about $7,898,000. Jane Street Group LLC acquired a new position in CervoMed in the second quarter valued at approximately $414,000. Nuveen LLC acquired a new stake in shares of CervoMed during the 1st quarter worth approximately $312,000. Citadel Advisors LLC acquired a new position in CervoMed during the 3rd quarter valued at approximately $247,000. Finally, Citizens Financial Group Inc. RI acquired a new stake in CervoMed in the first quarter worth $244,000. 25.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CRVO shares. Roth Capital set a $20.00 target price on shares of CervoMed and gave the company a “buy” rating in a report on Friday, October 17th. HC Wainwright upgraded CervoMed from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $11.00 to $25.00 in a report on Wednesday, November 5th. Canaccord Genuity Group raised their price objective on CervoMed from $21.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Chardan Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of CervoMed in a research report on Monday, August 11th. Finally, D. Boral Capital reissued a “buy” rating and issued a $31.00 target price on shares of CervoMed in a research note on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, CervoMed presently has a consensus rating of “Moderate Buy” and an average price target 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.