CervoMed (NASDAQ:CRVO) Given New $15.00 Price Target at Roth Mkm

CervoMed (NASDAQ:CRVO) had its price objective boosted by Roth Mkm from $7.00 to $15.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock.

Several other equities analysts have also recently weighed in on CRVO. Morgan Stanley reiterated an “underweight” rating on shares of CervoMed in a research report on Wednesday, December 11th. Roth Capital raised CervoMed to a “strong-buy” rating in a research report on Thursday, December 5th. Brookline Capital Management lowered CervoMed from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. HC Wainwright cut CervoMed from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 17th. 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 research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, CervoMed currently has a consensus rating of “Moderate Buy” and an average price target of $33.14.

CervoMed Trading Down 8.8 %

CRVO traded down $0.20 during trading on Tuesday, reaching $2.03. The company had a trading volume of 177,420 shares, compared to its average volume of 127,974. The firm’s 50-day simple moving average is $2.22 and its 200 day simple moving average is $8.31. CervoMed has a 12-month low of $1.80 and a 12-month high of $26.38.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CRVO. Barclays PLC boosted its holdings in CervoMed by 323.6% in the third quarter. Barclays PLC now owns 7,748 shares of the company’s stock worth $113,000 after purchasing an additional 5,919 shares in the last quarter. Perigon Wealth Management LLC bought a new stake in shares of CervoMed during the 4th quarter worth about $147,000. State Street Corp increased its holdings in shares of CervoMed by 28.1% during the 3rd 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 during the last quarter. Geode Capital Management LLC raised its stake 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 acquiring an additional 14,042 shares in the last quarter. Finally, Citizens Financial Group Inc. RI raised its stake in shares of CervoMed by 13.2% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 30,509 shares of the company’s stock valued at $445,000 after acquiring an additional 3,553 shares in the last quarter. 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.