Virtu Financial LLC Invests $26,000 in CervoMed Inc. (NASDAQ:CRVO)

Virtu Financial LLC acquired a new stake in CervoMed Inc. (NASDAQ:CRVO) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,224 shares of the company’s stock, valued at approximately $26,000. Virtu Financial LLC owned about 0.18% of CervoMed at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CRVO. Cornerstone Wealth Management LLC purchased a new position in shares of CervoMed during the 4th quarter valued at $48,000. FMR LLC bought a new stake in CervoMed in the 3rd quarter valued at about $56,000. Barclays PLC lifted its holdings in CervoMed by 323.6% during the third quarter. Barclays PLC now owns 7,748 shares of the company’s stock valued at $113,000 after purchasing an additional 5,919 shares during the last quarter. Perigon Wealth Management LLC bought a new position in CervoMed during the fourth quarter worth about $147,000. Finally, State Street Corp increased its stake in shares of CervoMed by 28.1% in the third quarter. State Street Corp now owns 104,456 shares of the company’s stock worth $1,525,000 after purchasing an additional 22,903 shares in the last quarter. 25.15% of the stock is owned by institutional investors.

CervoMed Trading Up 9.1 %

Shares of NASDAQ CRVO opened at $9.98 on Wednesday. The business has a 50-day moving average of $4.29 and a 200-day moving average of $7.42. The firm has a market capitalization of $86.86 million, a price-to-earnings ratio of -4.92 and a beta of 1.84. CervoMed Inc. has a 12 month low of $1.80 and a 12 month high of $25.92.

CervoMed (NASDAQ:CRVO) last issued its quarterly earnings results on Monday, March 17th. The company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.13). CervoMed had a negative return on equity of 44.11% and a negative net margin of 118.68%. The company had revenue of $2.16 million during the quarter, compared to the consensus estimate of $1.51 million. On average, analysts predict that CervoMed Inc. will post -1.88 earnings per share for the current year.

Analyst Ratings Changes

CRVO has been the topic of a number of recent research reports. Roth Mkm upped their price target on shares of CervoMed from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. D. Boral Capital reaffirmed a “buy” rating and issued a $10.00 price target on shares of CervoMed in a report on Wednesday, March 26th. Brookline Capital Management upgraded CervoMed from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Jones Trading raised CervoMed from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Thursday, March 13th. Finally, HC Wainwright lowered CervoMed from a “buy” rating to a “neutral” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.50.

CervoMed 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.