Citizens Financial Group Inc. RI Has $445,000 Stock Position in CervoMed Inc. (NASDAQ:CRVO)

Citizens Financial Group Inc. RI lifted its position in shares of CervoMed Inc. (NASDAQ:CRVO) by 13.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,509 shares of the company’s stock after acquiring an additional 3,553 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in CervoMed were worth $445,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CRVO. Renaissance Technologies LLC raised its holdings in CervoMed by 5.2% during the 2nd quarter. Renaissance Technologies LLC now owns 32,333 shares of the company’s stock worth $554,000 after purchasing an additional 1,600 shares during the last quarter. Rhumbline Advisers acquired a new stake in shares of CervoMed during the 2nd quarter worth approximately $96,000. Ikarian Capital LLC bought a new stake in shares of CervoMed during the first quarter worth approximately $5,530,000. Bank of New York Mellon Corp acquired a new position in CervoMed in the second quarter valued at approximately $236,000. Finally, Fred Alger Management LLC acquired a new position in CervoMed in the second quarter valued at approximately $60,000. Institutional investors and hedge funds own 25.15% of the company’s stock.

CervoMed Stock Up 0.2 %

Shares of CRVO stock opened at $9.60 on Friday. The stock has a 50-day moving average of $13.27 and a 200-day moving average of $16.01. CervoMed Inc. has a one year low of $5.85 and a one year high of $26.38.

CervoMed (NASDAQ:CRVO) last issued its earnings results on Tuesday, November 12th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.14). The firm 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%. As a group, research analysts expect that CervoMed Inc. will post -1.73 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Chardan Capital reaffirmed a “buy” rating and set a $55.00 target price on shares of CervoMed in a report on Thursday, November 14th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $53.60.

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.