CervoMed (NASDAQ:CRVO) Raised to Buy at Jones Trading

CervoMed (NASDAQ:CRVO) was upgraded by analysts at Jones Trading from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a $15.00 price target on the stock. Jones Trading’s price objective suggests a potential upside of 132.92% from the company’s current price.

Several other equities research analysts also recently issued reports on CRVO. D. Boral Capital reiterated a “buy” rating and set a $10.00 price target on shares of CervoMed in a report on Tuesday. Roth Capital upgraded CervoMed to a “strong-buy” rating in a report on Thursday, December 5th. Brookline Capital Management upgraded CervoMed from a “hold” rating to a “strong-buy” rating in a report on Tuesday. HC Wainwright downgraded CervoMed from a “buy” rating to a “neutral” rating in a report on Tuesday, December 17th. Finally, Morgan Stanley reiterated an “underweight” rating on shares of CervoMed in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.75.

CervoMed Stock Performance

NASDAQ CRVO opened at $6.44 on Thursday. The business has a 50 day moving average price of $2.45 and a 200-day moving average price of $8.10. CervoMed has a 52 week low of $1.80 and a 52 week high of $26.38.

Institutional Trading of CervoMed

A number of institutional investors have recently added to or reduced their stakes in the stock. Woodline Partners LP purchased a new stake in CervoMed during the 4th quarter worth about $175,000. Nuveen Asset Management LLC lifted its holdings in CervoMed by 113.6% during the 4th quarter. Nuveen Asset Management LLC now owns 41,569 shares of the company’s stock worth $97,000 after purchasing an additional 22,104 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in CervoMed during the 4th quarter worth about $32,000. Mariner LLC purchased a new stake in CervoMed during the 4th quarter worth about $30,000. Finally, DRW Securities LLC purchased a new stake in CervoMed during the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 25.15% of the company’s stock.

About CervoMed

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.