CervoMed Inc. (NASDAQ:CRVO - Get Free Report) Director Joshua Boger acquired 955,414 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average price of $3.14 per share, with a total value of $2,999,999.96. Following the acquisition, the director directly owned 1,795,865 shares of the company's stock, valued at $5,639,016.10. The trade was a 113.68% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
CervoMed Trading Up 1.2%
NASDAQ:CRVO opened at $2.48 on Tuesday. CervoMed Inc. has a 1-year low of $2.13 and a 1-year high of $13.13. The firm has a market capitalization of $22.96 million, a price-to-earnings ratio of -0.76 and a beta of -0.68. The business's 50-day moving average price is $3.47 and its two-hundred day moving average price is $5.22.
CervoMed (NASDAQ:CRVO - Get Free Report) last posted its earnings results on Friday, May 15th. The company reported ($0.86) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.04. CervoMed had a negative return on equity of 136.08% and a negative net margin of 672.80%. Sell-side analysts predict that CervoMed Inc. will post -2.86 earnings per share for the current year.
Analyst Ratings Changes
A number of research analysts recently issued reports on CRVO shares. Roth Mkm set a $9.00 price objective on shares of CervoMed in a report on Monday, May 18th. Weiss Ratings reissued a "sell (d-)" rating on shares of CervoMed in a research report on Monday, April 20th. Chardan Capital boosted their price target on shares of CervoMed from $15.00 to $21.00 and gave the company a "buy" rating in a report on Wednesday, March 18th. HC Wainwright restated a "buy" rating and issued a $25.00 price objective on shares of CervoMed in a research report on Thursday, April 23rd. Finally, D. Boral Capital reiterated a "buy" rating and set a $31.00 target price on shares of CervoMed in a report on Wednesday, April 22nd. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, CervoMed presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.60.
View Our Latest Analysis on CRVO
Institutional Investors Weigh In On CervoMed
A number of hedge funds and other institutional investors have recently made changes to their positions in CRVO. Northwestern Mutual Wealth Management Co. lifted its position in CervoMed by 8,425,900.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 84,260 shares of the company's stock valued at $666,000 after acquiring an additional 84,259 shares in the last quarter. Jane Street Group LLC acquired a new position in CervoMed in the 2nd quarter worth $414,000. Renaissance Technologies LLC bought a new position in CervoMed during the 1st quarter worth about $252,000. Citadel Advisors LLC acquired a new stake in shares of CervoMed in the 3rd quarter valued at about $247,000. Finally, Savvy Advisors Inc. acquired a new stake in shares of CervoMed in the 3rd quarter valued at about $210,000. 25.15% of the stock is currently owned by institutional investors and hedge funds.
About CervoMed
(
Get Free Report)
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. The company also develops EIP200 for central nervous system which is in preclinical trials. CervoMed Inc was founded in 2010 and is headquartered in Boston, Massachusetts.
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