CervoMed Inc. (NASDAQ:CRVO) Short Interest Update

CervoMed Inc. (NASDAQ:CRVO) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 2,630,000 shares, a growth of 190.7% from the February 28th total of 904,700 shares. Based on an average daily trading volume, of 4,280,000 shares, the days-to-cover ratio is presently 0.6 days. Approximately 46.6% of the shares of the company are short sold.

Institutional Trading of CervoMed

Several large investors have recently made changes to their positions in CRVO. FMR LLC purchased a new position in CervoMed in the 3rd quarter valued at $56,000. Barclays PLC lifted its stake in shares of CervoMed by 323.6% in the third quarter. Barclays PLC now owns 7,748 shares of the company’s stock worth $113,000 after buying an additional 5,919 shares in the last quarter. Virtu Financial LLC acquired a new position in CervoMed during the fourth quarter worth about $26,000. DRW Securities LLC acquired a new stake in CervoMed in the 4th quarter valued at about $30,000. Finally, Mariner LLC purchased a new position in CervoMed in the 4th quarter worth approximately $30,000. 25.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CRVO shares. Roth Mkm lifted their price target on CervoMed from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. Jones Trading raised shares of CervoMed from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Thursday, March 13th. HC Wainwright downgraded shares of CervoMed from a “buy” rating to a “neutral” rating in a report on Tuesday, December 17th. Morgan Stanley restated an “underweight” rating on shares of CervoMed in a research report on Wednesday, December 11th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $10.00 price objective on shares of CervoMed in a research report on Wednesday. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, CervoMed currently has an average rating of “Moderate Buy” and a consensus target price of $27.50.

CervoMed Stock Up 8.2 %

Shares of NASDAQ CRVO traded up $0.63 during trading on Thursday, hitting $8.34. The company had a trading volume of 602,646 shares, compared to its average volume of 1,235,533. The firm has a market capitalization of $72.58 million, a price-to-earnings ratio of -4.11 and a beta of 1.84. The stock has a fifty day simple moving average of $3.72 and a two-hundred day simple moving average of $7.68. CervoMed has a fifty-two week low of $1.80 and a fifty-two week high of $25.92.

CervoMed (NASDAQ:CRVO) last posted its quarterly earnings data on Monday, March 17th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.13). CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%. The firm had revenue of $2.16 million during the quarter, compared to analyst estimates of $1.51 million. On average, analysts anticipate that CervoMed will post -1.88 earnings per share for the current year.

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.