CervoMed Inc. (NASDAQ:CRVO) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of CervoMed Inc. (NASDAQ:CRVO) have been given an average recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $33.14.

Several research analysts have recently commented on CRVO shares. D. Boral Capital reissued a “buy” rating and issued a $10.00 price target on shares of CervoMed in a research report on Tuesday. Canaccord Genuity Group dropped their target price on CervoMed from $65.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Roth Mkm boosted their target price on CervoMed from $7.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday. Roth Capital upgraded CervoMed to a “strong-buy” rating in a research note on Thursday, December 5th. Finally, HC Wainwright downgraded CervoMed from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 17th.

CervoMed Price Performance

CRVO opened at $2.36 on Friday. CervoMed has a 12 month low of $1.80 and a 12 month high of $26.38. The stock has a fifty day moving average price of $2.22 and a 200-day moving average price of $8.22.

Hedge Funds Weigh In On CervoMed

Several institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of CervoMed by 13.9% in the 3rd quarter. Geode Capital Management LLC now owns 114,934 shares of the company’s stock valued at $1,678,000 after buying an additional 14,042 shares during the period. State Street Corp lifted its holdings in shares of CervoMed by 28.1% in the 3rd quarter. State Street Corp now owns 104,456 shares of the company’s stock valued at $1,525,000 after buying an additional 22,903 shares during the period. Woodline Partners LP acquired a new position in shares of CervoMed in the 4th quarter valued at about $175,000. Perigon Wealth Management LLC acquired a new position in shares of CervoMed in the 4th quarter valued at about $147,000. Finally, Nuveen Asset Management LLC lifted its holdings 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 buying an additional 22,104 shares during the period. Institutional investors and hedge funds 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.