In the last trading session, 3.13 million shares of the CervoMed Inc (NASDAQ:CRVO) were traded, and its beta was -0.63. Most recently the company’s share price was $10.71, and it changed around -$3.58 or -25.05% from the last close, which brings the market valuation of the company to $93.20M. CRVO currently trades at a discount to its 52-week high of $25.92, offering almost -142.02% off that amount. The share price’s 52-week low was $1.80, which indicates that the current value has risen by an impressive 83.19% since then. We note from CervoMed Inc’s average daily trading volume that its 10-day average is 26.73 million shares, with the 3-month average coming to 4.53 million.
CervoMed Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.29. If we narrow it down even further, the data shows that 1 out of 11 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 4 recommended CRVO as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. CervoMed Inc is expected to report earnings per share of -0.62 for the current quarter.
CervoMed Inc (NASDAQ:CRVO) trade information
Instantly CRVO has showed a red trend with a performance of -25.05% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 16.94 on recent trading dayincreased the stock’s daily price by 36.78%. The company’s shares are currently up 357.69% year-to-date, but still up 18.34% over the last five days. On the other hand, CervoMed Inc (NASDAQ:CRVO) is 369.74% up in the 30-day period. We can see from the shorts that 0.9 million shares have been sold at a short interest cover period of 10.62 day(s).
The consensus price target as assigned by Wall Street analysts is $16.32, which translates to bulls needing to increase their stock price by 34.37% from its current value. Analyst projections state that CRVO is forecast to be at a low of $16.32 and a high of $19.29.
CervoMed Inc (CRVO) estimates and forecasts
The year-over-year growth rate is expected to be -42.36%, down from the previous year. Consensus estimates provided by 5 financial analysts predict the company will bring in an average of 1.96M in revenue for the current quarter. 5 analysts expect CervoMed Inc to make 1.75M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 2.35M and 3.29M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -16.41%. Forecasts for the next quarter put sales growth at -46.68%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 56.66%. CervoMed Inc earnings are expected to increase by 6.08% in 2025, but the outlook is positive 3.71% per year for the next five years.
CervoMed Inc (NASDAQ:CRVO)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 33.38% of CervoMed Inc shares, and 17.22% of them are in the hands of institutional investors. The stock currently has a share float of 25.84%. CervoMed Inc stock is held by 69.0 institutions, with RA CAPITAL MANAGEMENT, L.P. being the largest institutional investor. By 2024-06-30, it held 9.3892% of the shares, which is about 0.82 million shares worth $13.99 million.
ARMISTICE CAPITAL, LLC, with 7.354% or 0.64 million shares worth $10.96 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
