CEL-SCI Corporation (CVM, Financial) has announced a significant development following its recent annual shareholder meeting. The company’s board of directors approved a 1-for-30 reverse stock split of its common shares, which is set to take effect on May 20. On this date, the consolidated shares will begin trading under a new CUSIP number, 150837 706, though the ticker symbol (CVM) will remain unchanged.
This strategic move aims to address the low share price, which has restricted investment from certain funds and met with concerns from major U.S. stock exchanges seeking higher share valuations for listed companies. CEL-SCI anticipates that this consolidation will attract increased investor attention and engagement. The company continues to advance its investigational drug programs, targeting improved treatments for cancer, autoimmune, and infectious diseases, with ongoing support from its shareholders.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 3 analysts, the average target price for CEL-SCI Corp (CVM, Financial) is $7.40 with a high estimate of $10.00 and a low estimate of $6.00. The average target implies an upside of 3,187.43% from the current price of $0.23. More detailed estimate data can be found on the CEL-SCI Corp (CVM) Forecast page.
Based on the consensus recommendation from 2 brokerage firms, CEL-SCI Corp's (CVM, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
