Barclays PLC Has $113,000 Stock Holdings in CervoMed Inc. (NASDAQ:CRVO)

Barclays PLC raised its stake in shares of CervoMed Inc. (NASDAQ:CRVO) by 323.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,748 shares of the company’s stock after purchasing an additional 5,919 shares during the quarter. Barclays PLC’s holdings in CervoMed were worth $113,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. State Street Corp boosted its stake in CervoMed by 28.1% in the 3rd quarter. State Street Corp now owns 104,456 shares of the company’s stock valued at $1,525,000 after buying an additional 22,903 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of CervoMed by 13.9% during the third quarter. Geode Capital Management LLC now owns 114,934 shares of the company’s stock valued at $1,678,000 after acquiring an additional 14,042 shares during the period. Renaissance Technologies LLC boosted its stake in shares of CervoMed by 5.2% in the 2nd quarter. Renaissance Technologies LLC now owns 32,333 shares of the company’s stock valued at $554,000 after purchasing an additional 1,600 shares in the last quarter. Rhumbline Advisers bought a new stake in shares of CervoMed in the 2nd quarter worth about $96,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of CervoMed in the 2nd quarter worth about $236,000. 25.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CRVO has been the topic of a number of recent analyst reports. Canaccord Genuity Group reduced their price target on shares of CervoMed from $65.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Morgan Stanley reiterated an “underweight” rating on shares of CervoMed in a research note on Wednesday, December 11th. D. Boral Capital restated a “hold” rating on shares of CervoMed in a research report on Tuesday, December 10th. Chardan Capital reiterated a “neutral” rating on shares of CervoMed in a research report on Wednesday, December 11th. Finally, Roth Capital upgraded CervoMed to a “strong-buy” rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $42.00.

CervoMed Trading Up 4.1 %

Shares of CRVO opened at $2.27 on Friday. The business’s fifty day moving average price is $4.97 and its two-hundred day moving average price is $11.30. CervoMed Inc. has a 52 week low of $1.80 and a 52 week high of $26.38.

CervoMed (NASDAQ:CRVO) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.14). The firm had revenue of $1.94 million for the quarter, compared to analyst estimates of $1.75 million. CervoMed had a negative net margin of 118.68% and a negative return on equity of 44.11%. Research analysts anticipate that CervoMed Inc. will post -1.88 earnings per share for the current fiscal year.

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.