CervoMed (NASDAQ:CRVO) Upgraded to “Buy” at Chardan Capital

CervoMed (NASDAQ:CRVO) was upgraded by stock analysts at Chardan Capital from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. The brokerage presently has a $14.00 price objective on the stock. Chardan Capital’s price objective would suggest a potential upside of 126.90% from the company’s current price.

CRVO has been the subject of a number of other reports. Roth Capital upgraded CervoMed to a “strong-buy” rating in a research report on Thursday, December 5th. Morgan Stanley reiterated an “underweight” rating on shares of CervoMed in a research report on Wednesday, December 11th. HC Wainwright lowered CervoMed from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 17th. D. Boral Capital reiterated a “buy” rating and issued a $10.00 price objective on shares of CervoMed in a research report on Tuesday. Finally, Brookline Capital Management upgraded CervoMed from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CervoMed has a consensus rating of “Moderate Buy” and a consensus target price of $27.29.

CervoMed Stock Performance

CRVO stock opened at $6.17 on Thursday. The business has a 50 day simple moving average of $2.30 and a 200-day simple moving average of $8.20. CervoMed has a 1 year low of $1.80 and a 1 year high of $26.38.

Institutional Trading of CervoMed

Hedge funds have recently modified their holdings of the stock. Woodline Partners LP purchased a new position in shares of CervoMed during the fourth quarter worth about $175,000. Nuveen Asset Management LLC grew its holdings in shares of CervoMed by 113.6% during the fourth quarter. Nuveen Asset Management LLC now owns 41,569 shares of the company’s stock worth $97,000 after buying an additional 22,104 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of CervoMed during the fourth quarter worth about $32,000. Mariner LLC purchased a new position in shares of CervoMed during the fourth quarter worth about $30,000. Finally, DRW Securities LLC purchased a new position in shares of CervoMed during the fourth quarter worth about $30,000. 25.15% of the stock is currently owned by institutional investors and hedge funds.

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.