Mariner LLC Invests $30,000 in CervoMed Inc. (NASDAQ:CRVO)

Mariner LLC acquired a new stake in CervoMed Inc. (NASDAQ:CRVO) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 12,937 shares of the company’s stock, valued at approximately $30,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in CervoMed during the 4th quarter valued at about $26,000. DRW Securities LLC bought a new position in shares of CervoMed during the fourth quarter valued at approximately $30,000. JPMorgan Chase & Co. increased its holdings in CervoMed by 251.8% during the fourth quarter. JPMorgan Chase & Co. now owns 14,464 shares of the company’s stock valued at $34,000 after buying an additional 10,352 shares during the period. Cornerstone Wealth Management LLC bought a new position in CervoMed in the fourth quarter worth approximately $48,000. Finally, Barclays PLC raised its stake in CervoMed by 323.6% in the third quarter. Barclays PLC now owns 7,748 shares of the company’s stock worth $113,000 after buying an additional 5,919 shares in the last quarter. 25.15% of the stock is currently owned by institutional investors.

CervoMed Stock Down 5.2 %

Shares of CervoMed stock opened at $8.44 on Friday. The company has a 50 day moving average price of $8.63 and a 200 day moving average price of $6.54. The firm has a market capitalization of $73.45 million, a P/E ratio of -4.16 and a beta of -0.23. CervoMed Inc. has a 52 week low of $1.80 and a 52 week high of $25.67.

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

Wall Street Analysts Forecast Growth

CRVO has been the topic of a number of analyst reports. D. Boral Capital reiterated a “buy” rating and issued a $10.00 price target on shares of CervoMed in a report on Wednesday, March 26th. Canaccord Genuity Group lifted their target price on CervoMed from $12.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. Brookline Capital Management raised shares of CervoMed from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Roth Mkm raised their price target on shares of CervoMed from $15.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. Finally, Chardan Capital upgraded shares of CervoMed from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.