Barclays PLC Acquires 5,919 Shares of CervoMed Inc. (NASDAQ:CRVO)

Barclays PLC raised its holdings in CervoMed Inc. (NASDAQ:CRVO) by 323.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,748 shares of the company’s stock after acquiring an additional 5,919 shares during the period. Barclays PLC owned about 0.13% of CervoMed worth $113,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CRVO. FMR LLC bought a new position in CervoMed in the third quarter valued at about $56,000. Fred Alger Management LLC acquired a new stake in shares of CervoMed during the second quarter valued at about $60,000. Rhumbline Advisers acquired a new stake in shares of CervoMed during the second quarter valued at about $96,000. Bank of New York Mellon Corp acquired a new stake in shares of CervoMed during the second quarter valued at about $236,000. Finally, Citizens Financial Group Inc. RI boosted its stake in shares of CervoMed by 13.2% during the third quarter. Citizens Financial Group Inc. RI now owns 30,509 shares of the company’s stock valued at $445,000 after purchasing an additional 3,553 shares in the last quarter. Institutional investors own 25.15% of the company’s stock.

CervoMed Trading Down 5.6 %

Shares of CervoMed stock opened at $2.18 on Thursday. The stock has a fifty day simple moving average of $7.03 and a 200 day simple moving average of $12.35. CervoMed Inc. has a 12-month low of $1.80 and a 12-month high of $26.38.

CervoMed (NASDAQ:CRVO) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.14). The business had revenue of $1.94 million during the quarter, compared to the consensus estimate of $1.75 million. CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%. On average, research analysts anticipate that CervoMed Inc. will post -1.77 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CRVO. D. Boral Capital reissued a “hold” rating on shares of CervoMed in a research note on Tuesday, December 10th. Brookline Capital Management lowered CervoMed from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Roth Capital raised CervoMed to a “strong-buy” rating in a research note on Thursday, December 5th. Morgan Stanley reissued an “underweight” rating on shares of CervoMed in a research note on Wednesday, December 11th. Finally, Canaccord Genuity Group cut their price objective on CervoMed from $65.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.00.

CervoMed Company Profile

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.