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We recently published a list of These 10 Stocks Posted Double-, Triple-Digit Gains Last Week. In this article, we are going to take a look at where CervoMed Inc. (NASDAQ:CRVO) stands against other stocks that posted double-, triple-digit gains last week.
Micro- and small-cap companies dominated gains on the stock market last week, bucking an overall market pessimism, thanks to a flurry of company developments that bolstered investing appetite, including acquisition and stellar earnings performance.
In this article, we listed the names of last week’s top performers and detailed the reasons behind their gains based on their share prices last Friday, March 14, and their closing prices on March 7, or the Friday prior.
We classify micro-cap companies as those with a market capitalization below $300 million and small-cap firms as those with a market capitalization below $1 billion.
A medical research laboratory showcasing the latest technologies used in clinical-stage biopharmaceutical studies.
CervoMed Inc. (NASDAQ:CRVO)
CervoMed saw its share prices increase by 191 percent on Friday versus its $2.21 close on March 7 following positive results from the extension phase of its phase 2b clinical study of Neflamapimod for the treatment of Dementia with Lewy Bodies (DLB).
A total of 159 participants enrolled in the initial phase of the study. Of the number, 152 completed the initial phase, and 149 entered the extension phase, during which all participants received Neflamapimod.
In a statement last week, John-Paul Taylor, professor of translational dementia research at Newcastle University in the UK, said that the results from the extension phase of the study were highly persuasive.
DLB is the third most common degenerative disease of the brain after Alzheimer’s disease (AD) and Parkinson’s disease. According to CRVO, patients with the disease accumulate protein deposits called Lewy bodies in the brain’s nerve cells. This negatively affects cognitive ability, including attention, judgment, and reasoning, along with motor function.
Overall, CRVO ranks 2nd on our list of stocks that posted double-, triple-digit gains last week. While we acknowledge the potential of CRVO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as CRVO but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.