683 Capital Management LLC Has $15.93 Million Stake in Mereo BioPharma Group plc (NASDAQ:MREO)

683 Capital Management LLC lowered its position in Mereo BioPharma Group plc (NASDAQ:MREO - Free Report) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,550,000 shares of the company's stock after selling 299,800 shares during the quarter. Mereo BioPharma Group makes up approximately 1.0% of 683 Capital Management LLC's holdings, making the stock its 15th biggest position. 683 Capital Management LLC owned about 2.93% of Mereo BioPharma Group worth $15,925,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new stake in shares of Mereo BioPharma Group in the 4th quarter valued at approximately $37,000. Jump Financial LLC bought a new stake in Mereo BioPharma Group in the fourth quarter worth approximately $39,000. Golden State Equity Partners raised its holdings in shares of Mereo BioPharma Group by 247.7% during the 4th quarter. Golden State Equity Partners now owns 22,600 shares of the company's stock valued at $79,000 after purchasing an additional 16,100 shares in the last quarter. Sheets Smith Investment Management acquired a new stake in shares of Mereo BioPharma Group in the 4th quarter valued at $59,000. Finally, Virtus ETF Advisers LLC bought a new stake in Mereo BioPharma Group in the fourth quarter worth $67,000. 62.83% of the stock is owned by institutional investors and hedge funds.

Mereo BioPharma Group Trading Up 3.2 %

MREO traded up $0.08 during midday trading on Wednesday, reaching $2.41. The company's stock had a trading volume of 859,977 shares, compared to its average volume of 1,093,606. Mereo BioPharma Group plc has a twelve month low of $1.58 and a twelve month high of $5.02. The stock has a market cap of $382.40 million, a P/E ratio of -40.10 and a beta of 0.53. The company has a fifty day simple moving average of $2.34 and a 200 day simple moving average of $3.08.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last issued its quarterly earnings results on Wednesday, March 26th. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.03). Sell-side analysts expect that Mereo BioPharma Group plc will post -0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MREO shares. Needham & Company LLC restated a "buy" rating and set a $7.00 target price on shares of Mereo BioPharma Group in a report on Wednesday, April 9th. JPMorgan Chase & Co. started coverage on Mereo BioPharma Group in a report on Thursday, March 27th. They issued an "overweight" rating and a $7.00 target price for the company. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $7.00 price target on shares of Mereo BioPharma Group in a report on Tuesday, March 18th. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $7.71.

Mereo BioPharma Group Company Profile

Mereo BioPharma Group plc, a biopharmaceutical company, develops and commercializes therapeutics for the treatment of oncology and rare diseases in the United Kingdom, the United States, and internationally. It develops Etigilimab (MPH-313), an antibody T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial for the treatment of tumors.