CervoMed (NASDAQ:CRVO) Given Underweight Rating at Morgan Stanley

CervoMed (NASDAQ:CRVO)‘s stock had its “underweight” rating reissued by analysts at Morgan Stanley in a research report issued to clients and investors on Wednesday, MarketBeat.com reports.

CRVO has been the topic of several other research reports. Chardan Capital reiterated a “neutral” rating on shares of CervoMed in a research note on Wednesday. Roth Capital raised shares of CervoMed to a “strong-buy” rating in a research report on Thursday, December 5th. HC Wainwright initiated coverage on shares of CervoMed in a report on Thursday, December 5th. They set a “buy” rating and a $42.00 price target on the stock. D. Boral Capital reissued a “hold” rating on shares of CervoMed in a research report on Tuesday. Finally, Roth Mkm began coverage on CervoMed in a research report on Friday, December 6th. They issued a “buy” rating and a $45.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

CervoMed Stock Performance

CRVO opened at $1.93 on Wednesday. The stock has a fifty day moving average of $11.51 and a 200-day moving average of $14.76. CervoMed has a 12-month low of $1.83 and a 12-month high of $26.38.

CervoMed (NASDAQ:CRVO) last posted its quarterly earnings results 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 analyst estimates of $1.75 million. CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%. On average, sell-side analysts anticipate that CervoMed will post -1.76 EPS for the current fiscal year.

Institutional Investors Weigh In On CervoMed

Hedge funds have recently bought and sold shares of the company. FMR LLC acquired a new position in shares of CervoMed during the 3rd quarter worth about $56,000. Fred Alger Management LLC acquired a new position in shares of CervoMed during the second quarter worth approximately $60,000. Rhumbline Advisers bought a new stake in shares of CervoMed in the second quarter valued at approximately $96,000. Barclays PLC boosted its position in shares of CervoMed by 323.6% in the third quarter. Barclays PLC now owns 7,748 shares of the company’s stock valued at $113,000 after acquiring an additional 5,919 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of CervoMed in the second quarter worth $236,000. 25.15% of the stock is currently owned by institutional investors.

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.