CervoMed (NASDAQ:CRVO) Stock Rating Upgraded by Chardan Capital

CervoMed (NASDAQ:CRVO) was upgraded by equities research analysts at Chardan Capital from a “neutral” rating to a “buy” rating in a report issued on Thursday, MarketBeat.com reports. The firm currently has a $14.00 target price on the stock. Chardan Capital’s price target points to a potential upside of 117.39% from the company’s current price.

Other analysts also recently issued research reports about the stock. HC Wainwright downgraded shares of CervoMed from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 17th. D. Boral Capital reissued a “buy” rating and set a $10.00 target price on shares of CervoMed in a research report on Tuesday. Roth Mkm boosted their target price on shares of CervoMed from $7.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday. Morgan Stanley reissued an “underweight” rating on shares of CervoMed in a research report on Wednesday, December 11th. Finally, Roth Capital raised shares of CervoMed to a “strong-buy” rating in a report on Thursday, December 5th. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $25.75.

CervoMed Price Performance

NASDAQ:CRVO opened at $6.44 on Thursday. CervoMed has a twelve month low of $1.80 and a twelve month high of $26.38. The company’s 50 day moving average is $2.45 and its two-hundred day moving average is $8.10.

Hedge Funds Weigh In On CervoMed

Several large investors have recently made changes to their positions in CRVO. Woodline Partners LP acquired a new position in shares of CervoMed in the 4th quarter valued at $175,000. Nuveen Asset Management LLC lifted its stake in shares of CervoMed by 113.6% in the 4th quarter. Nuveen Asset Management LLC now owns 41,569 shares of the company’s stock valued at $97,000 after purchasing an additional 22,104 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of CervoMed in the 4th quarter valued at $32,000. Mariner LLC acquired a new position in shares of CervoMed in the 4th quarter valued at $30,000. Finally, DRW Securities LLC acquired a new position in shares of CervoMed in the 4th quarter valued at $30,000. 25.15% of the stock is currently owned by institutional investors and hedge funds.

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.