CervoMed Inc. (NASDAQ:CRVO) Short Interest Update

CervoMed Inc. (NASDAQ:CRVO) was the target of a large 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 volume of 4,280,000 shares, the short-interest ratio is currently 0.6 days. Currently, 46.6% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CRVO shares. HC Wainwright downgraded CervoMed from a “buy” rating to a “neutral” rating in a report on Tuesday, December 17th. Brookline Capital Management upgraded shares of CervoMed from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Roth Mkm boosted their price objective on shares of CervoMed from $15.00 to $20.00 and gave the company a “buy” rating in a 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 research note on Thursday, March 13th. Finally, Morgan Stanley reissued an “underweight” rating on shares of CervoMed in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, CervoMed has an average rating of “Moderate Buy” and a consensus price target of $27.50.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in CervoMed during the 4th quarter worth about $26,000. DRW Securities LLC bought a new stake in CervoMed during the fourth quarter worth about $30,000. Mariner LLC acquired a new position in CervoMed during the fourth quarter valued at approximately $30,000. BNP Paribas Financial Markets bought a new position in CervoMed in the fourth quarter valued at approximately $32,000. Finally, JPMorgan Chase & Co. increased its position in shares of CervoMed by 251.8% during the 4th quarter. JPMorgan Chase & Co. now owns 14,464 shares of the company’s stock worth $34,000 after purchasing an additional 10,352 shares during the last quarter. Institutional investors and hedge funds own 25.15% of the company’s stock.

CervoMed Price Performance

CRVO opened at $9.48 on Friday. The company has a market capitalization of $82.50 million, a price-to-earnings ratio of -4.67 and a beta of 1.84. The business’s 50-day moving average price is $4.00 and its two-hundred day moving average price is $7.64. CervoMed has a 1 year low of $1.80 and a 1 year high of $25.92.

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