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

Barclays PLC boosted its holdings in CervoMed Inc. (NASDAQ:CRVO) by 323.6% during the third quarter, according to its most recent 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 quarter. Barclays PLC’s holdings in CervoMed were worth $113,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CRVO. Citizens Financial Group Inc. RI bought a new position in CervoMed in the 2nd quarter worth about $461,000. State Street Corp increased its stake in CervoMed by 28.1% in the 3rd quarter. State Street Corp now owns 104,456 shares of the company’s stock worth $1,525,000 after acquiring an additional 22,903 shares during the last quarter. Bank of New York Mellon Corp bought a new position in CervoMed in the 2nd quarter worth about $236,000. Rhumbline Advisers bought a new position in CervoMed in the 2nd quarter worth about $96,000. Finally, FMR LLC bought a new position in CervoMed in the 3rd quarter worth about $56,000. 25.15% of the stock is currently owned by institutional investors.

CervoMed Stock Performance

CRVO opened at $2.18 on Thursday. The stock’s 50 day simple moving average is $7.03 and its 200 day simple moving average is $12.35. CervoMed Inc. has a 1 year low of $1.80 and a 1 year high of $26.38.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Brookline Capital Management lowered CervoMed from a “strong-buy” rating to a “hold” rating 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. HC Wainwright lowered CervoMed from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 17th. D. Boral Capital reiterated a “hold” rating on shares of CervoMed in a research report on Tuesday, December 10th. Finally, Roth Capital upgraded CervoMed to a “strong-buy” rating in a research report on Thursday, December 5th. 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $42.00.

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.