Analysts Set CervoMed Inc. (NASDAQ:CRVO) PT at $37.43

Shares of CervoMed Inc. (NASDAQ:CRVO) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $37.43.

CRVO has been the subject of several recent analyst reports. D. Boral Capital raised shares of CervoMed from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Wednesday, February 19th. Brookline Capital Management cut shares of CervoMed from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Roth Mkm initiated coverage on shares of CervoMed in a report on Friday, December 6th. They issued a “buy” rating and a $45.00 target price for the company. Morgan Stanley reaffirmed an “underweight” rating on shares of CervoMed in a report on Wednesday, December 11th. Finally, Canaccord Genuity Group decreased their target price on shares of CervoMed from $65.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, December 11th.

CervoMed Price Performance

Shares of NASDAQ CRVO opened at $2.21 on Friday. CervoMed has a 1 year low of $1.80 and a 1 year high of $26.38. The firm has a 50-day moving average of $2.22 and a 200 day moving average of $8.41.

Institutional Trading of CervoMed

A number of hedge funds and other institutional investors have recently modified their holdings of CRVO. Woodline Partners LP purchased a new stake in shares of CervoMed in the fourth quarter worth $175,000. Perigon Wealth Management LLC purchased a new position in CervoMed during the fourth quarter valued at $147,000. State Street Corp grew its stake in CervoMed by 28.1% during the third quarter. State Street Corp now owns 104,456 shares of the company’s stock valued at $1,525,000 after acquiring an additional 22,903 shares in the last quarter. Nuveen Asset Management LLC grew its stake in CervoMed by 113.6% during the fourth quarter. Nuveen Asset Management LLC now owns 41,569 shares of the company’s stock valued at $97,000 after acquiring an additional 22,104 shares in the last quarter. Finally, Cornerstone Wealth Management LLC purchased a new position in CervoMed during the fourth quarter valued at $48,000. 25.15% of the stock is owned by hedge funds and other 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.