Fintel reports that on December 5, 2024, HC Wainwright & Co. initiated coverage of CervoMed (NasdaqCM:CRVO) with a Buy recommendation.
Analyst Price Forecast Suggests 464.33% Upside
As of December 3, 2024, the average one-year price target for CervoMed is $54.74/share. The forecasts range from a low of $34.34 to a high of $73.50. The average price target represents an increase of 464.33% from its latest reported closing price of $9.70 / share.
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The projected annual revenue for CervoMed is 0MM, a decrease of 100.00%. The projected annual non-GAAP EPS is -2.72.
What is the Fund Sentiment?
There are 118 funds or institutions reporting positions in CervoMed. This is an increase of 64 owner(s) or 118.52% in the last quarter. Average portfolio weight of all funds dedicated to CRVO is 0.02%, an increase of 55.19%. Total shares owned by institutions increased in the last three months by 8.89% to 3,776K shares.
What are Other Shareholders Doing?
Ra Capital Management holds 817K shares representing 9.90% ownership of the company. No change in the last quarter.
AWM Investment holds 449K shares representing 5.44% ownership of the company. In its prior filing, the firm reported owning 314K shares , representing an increase of 30.06%. The firm increased its portfolio allocation in CRVO by 31.56% over the last quarter.
Armistice Capital holds 402K shares representing 4.87% ownership of the company. In its prior filing, the firm reported owning 640K shares , representing a decrease of 59.20%. The firm decreased its portfolio allocation in CRVO by 31.91% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 263K shares representing 3.19% ownership of the company. No change in the last quarter.
Ikarian Capital holds 202K shares representing 2.45% ownership of the company. In its prior filing, the firm reported owning 237K shares , representing a decrease of 17.30%. The firm decreased its portfolio allocation in CRVO by 41.80% over the last quarter.
CervoMed Background Information
(This description is provided by the company.)
diffusion pharmaceuticals is a clinical stage company focused on improving the effectiveness of standard-of-care therapies for life-threatening treatment-resistant solid cancerous tumors, without adding harmful side effects. the company is developing its lead drug, trans sodium crocetinate (tsc), which has received orphan drug designation from the fda for use in a number of cancers in which tumor hypoxia (oxygen deprivation) diminishes the efficacy of current treatments. tsc targets the cancer’s hypoxic micro-environment, re-oxygenating treatment-resistant tissue and making the cancerous cells more vulnerable to the therapeutic effects of conventional radiation and chemotherapy. the company is poised to begin a pivotal phase 3 trial in glioblastoma (gbm) in 2016. other programs include planned phase 2/3 trials in pancreatic cancer and brain metastases. because tsc’s novel mechanism safely re-oxygenates a wide range of tumor types, its use is not limited to a specific tumor tissue, but
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