CervoMed (NASDAQ:CRVO) Stock Rating Upgraded by Jones Trading

Jones Trading upgraded shares of CervoMed (NASDAQ:CRVO) from a hold rating to a buy rating in a research report report published on Thursday morning, Marketbeat Ratings reports. Jones Trading currently has $15.00 price objective on the stock.

A number of other analysts have also recently weighed in on the company. Brookline Capital Management raised CervoMed from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. HC Wainwright cut CervoMed from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 17th. Chardan Capital raised CervoMed from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Thursday. Roth Mkm raised their price objective on CervoMed from $7.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Finally, Roth Capital raised CervoMed to a “strong-buy” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.75.

CervoMed Stock Up 11.2 %

Shares of NASDAQ CRVO opened at $6.44 on Thursday. The stock’s fifty day simple moving average is $2.45 and its two-hundred day simple moving average is $8.04. CervoMed has a 12-month low of $1.80 and a 12-month high of $26.38.

Hedge Funds Weigh In On CervoMed

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC raised its stake in CervoMed by 323.6% in the 3rd quarter. Barclays PLC now owns 7,748 shares of the company’s stock worth $113,000 after acquiring an additional 5,919 shares during the last quarter. Perigon Wealth Management LLC purchased a new position in CervoMed in the 4th quarter worth $147,000. State Street Corp raised its stake in CervoMed by 28.1% in the 3rd quarter. State Street Corp now owns 104,456 shares of the company’s stock worth $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% during 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 last quarter. Finally, Citizens Financial Group Inc. RI raised its stake in shares of CervoMed by 13.2% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 30,509 shares of the company’s stock valued at $445,000 after buying an additional 3,553 shares during the last quarter. Hedge funds and other institutional investors own 25.15% of the company’s stock.

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.