CervoMed (NASDAQ:CRVO) Announces Quarterly Earnings Results

CervoMed (NASDAQ:CRVOGet Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.05, reports. The firm had revenue of $2.35 million for the quarter, compared to analyst estimates of $2.00 million.

CervoMed Price Performance

CervoMed stock opened at $24.36 on Friday. CervoMed has a fifty-two week low of $4.14 and a fifty-two week high of $26.38. The stock has a 50-day simple moving average of $22.85 and a 200-day simple moving average of $14.51.

Wall Street Analyst Weigh In

CRVO has been the subject of several recent research reports. Canaccord Genuity Group began coverage on shares of CervoMed in a research report on Thursday, February 15th. They issued a “buy” rating and a $50.00 price target for the company. Canaccord Genuity Group upped their price target on CervoMed from $50.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, April 8th.

Read Our Latest Stock Report on CRVO

Institutional Investors Weigh In On CervoMed

Several large investors have recently modified their holdings of CRVO. CWM LLC acquired a new stake in CervoMed during the 4th quarter worth $292,000. Rock Springs Capital Management LP purchased a new stake in CervoMed during the 3rd quarter valued at approximately $370,000. Adage Capital Partners GP L.L.C. acquired a new stake in CervoMed during the 3rd quarter worth approximately $921,000. Finally, Crown Advisors Management Inc. purchased a new position in shares of CervoMed in the 1st quarter valued at approximately $2,330,000. 25.15% of the stock is owned by institutional investors and hedge funds.

CervoMed Company Profile

(Get Free Report)

CervoMed Inc, a clinical-stage biotechnology company, engages in the development and commercialization of drug treatments for neurogenerative diseases. 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.

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Earnings History for CervoMed (NASDAQ:CRVO)

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