Citizens Financial Group Inc. RI acquired a new stake in CervoMed Inc. (NASDAQ:CRVO – Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 26,956 shares of the company’s stock, valued at approximately $461,000. Citizens Financial Group Inc. RI owned about 0.44% of CervoMed at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in CRVO. RA Capital Management L.P. acquired a new position in shares of CervoMed during the first quarter worth $20,075,000. Ikarian Capital LLC acquired a new position in CervoMed during the 1st quarter worth about $5,530,000. Crown Advisors Management Inc. bought a new stake in shares of CervoMed in the 1st quarter valued at about $2,330,000. Bank of New York Mellon Corp bought a new stake in shares of CervoMed in the 2nd quarter valued at about $236,000. Finally, Rhumbline Advisers acquired a new stake in shares of CervoMed in the second quarter valued at about $96,000. 25.15% of the stock is owned by institutional investors.
CervoMed Stock Performance
CervoMed stock opened at $15.80 on Thursday. CervoMed Inc. has a 52-week low of $4.28 and a 52-week high of $26.38. The stock’s 50 day moving average price is $15.53 and its two-hundred day moving average price is $18.90.
Analyst Upgrades and Downgrades
Several analysts recently commented on CRVO shares. Morgan Stanley started coverage on CervoMed in a report on Friday, July 26th. They issued an “overweight” rating and a $35.00 target price on the stock. Brookline Capital Management assumed coverage on shares of CervoMed in a research note on Monday, July 8th. They issued a “buy” rating and a $63.00 price objective on the stock. Chardan Capital began coverage on shares of CervoMed in a research note on Wednesday. They set a “buy” rating and a $55.00 target price for the company. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $65.00 price target on shares of CervoMed in a research report on Thursday, July 25th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, CervoMed has a consensus rating of “Buy” and an average price target of $53.60.
Check Out Our Latest Report on CRVO
About CervoMed
CervoMed Inc, a biotechnology company, engages in the development and commercialization of treatments for age-related neurologic disorders. 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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