HC Wainwright Issues Negative Outlook for CervoMed Earnings

CervoMed Inc. (NASDAQ:CRVO) – Research analysts at HC Wainwright cut their FY2024 EPS estimates for shares of CervoMed in a note issued to investors on Tuesday, December 17th. HC Wainwright analyst R. Selvaraju now anticipates that the company will post earnings per share of ($1.86) for the year, down from their prior forecast of ($1.76). HC Wainwright currently has a “Neutral” rating on the stock. The consensus estimate for CervoMed’s current full-year earnings is ($1.77) per share. HC Wainwright also issued estimates for CervoMed’s Q4 2024 earnings at ($0.63) EPS, Q1 2025 earnings at ($0.54) EPS, Q2 2025 earnings at ($0.50) EPS, Q3 2025 earnings at ($0.41) EPS, Q4 2025 earnings at ($0.32) EPS and FY2025 earnings at ($1.77) EPS.

A number of other brokerages also recently weighed in on CRVO. Brookline Capital Management downgraded CervoMed from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Roth Capital raised CervoMed to a “strong-buy” rating in a research report on Thursday, December 5th. Chardan Capital reiterated a “neutral” rating on shares of CervoMed in a research note on Wednesday, December 11th. Morgan Stanley restated an “underweight” rating on shares of CervoMed in a research report on Wednesday, December 11th. Finally, D. Boral Capital reiterated a “hold” rating on shares of CervoMed in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $42.00.

CervoMed Stock Down 1.5 %

Shares of CRVO stock traded down $0.03 on Thursday, hitting $1.97. The company’s stock had a trading volume of 31,781 shares, compared to its average volume of 130,993. CervoMed has a fifty-two week low of $1.80 and a fifty-two week high of $26.38. The firm’s fifty day moving average price is $10.36 and its 200-day moving average price is $14.16.

CervoMed (NASDAQ:CRVO) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.14). The business had revenue of $1.94 million for the quarter, compared to the consensus estimate of $1.75 million. CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%.

Institutional Trading of CervoMed

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC lifted its stake in CervoMed by 323.6% during 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 during the period. Geode Capital Management LLC raised 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 worth $1,678,000 after buying an additional 14,042 shares in the last quarter. State Street Corp raised 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 worth $1,525,000 after buying an additional 22,903 shares in the last quarter. FMR LLC bought a new position in shares of CervoMed during the 3rd quarter worth approximately $56,000. Finally, Citizens Financial Group Inc. RI boosted its stake in 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 buying an additional 3,553 shares in the last quarter. Institutional investors 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.