CervoMed (NASDAQ:CRVO) Releases Earnings Results, Misses Expectations By $0.07 EPS

by · The Cerbat Gem

CervoMed (NASDAQ:CRVO – Get Free Report) announced its quarterly earnings data on Friday. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.07), FiscalAI reports. CervoMed had a negative net margin of 672.80% and a negative return on equity of 96.04%.

CervoMed Trading Down 8.5%

Shares of NASDAQ:CRVO traded down $0.32 during mid-day trading on Friday, reaching $3.44. The stock had a trading volume of 119,521 shares, compared to its average volume of 42,389. The business’s 50 day moving average price is $3.99 and its 200 day moving average price is $5.93. CervoMed has a 1 year low of $3.35 and a 1 year high of $13.13. The company has a market cap of $31.85 million, a P/E ratio of -1.05 and a beta of -0.63.

Institutional Trading of CervoMed

Several hedge funds have recently modified their holdings of CRVO. AQR Capital Management LLC purchased a new position in shares of CervoMed in the first quarter valued at $227,000. Rhumbline Advisers raised its stake in CervoMed by 35.5% during the first quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock valued at $53,000 after purchasing an additional 1,526 shares in the last quarter. Marshall Wace LLP bought a new position in CervoMed during the second quarter valued at $76,000. Jane Street Group LLC purchased a new position in shares of CervoMed in the 2nd quarter worth $414,000. Finally, Vanguard Group Inc. grew its stake in shares of CervoMed by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 343,463 shares of the company’s stock worth $2,779,000 after buying an additional 3,445 shares in the last quarter. 25.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of CervoMed in a research report on Monday, April 20th. Chardan Capital upped their price target on CervoMed from $15.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of CervoMed in a report on Thursday, April 23rd. D. Boral Capital reiterated a “buy” rating and set a $31.00 price objective on shares of CervoMed in a research report on Wednesday, April 22nd. Finally, Roth Mkm lowered their target price on shares of CervoMed from $19.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

View Our Latest Analysis on CRVO

CervoMed Company Profile

(Get Free Report)

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. The company also develops EIP200 for central nervous system which is in preclinical trials. CervoMed Inc was founded in 2010 and is headquartered in Boston, Massachusetts.

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