Mereo BioPharma Group plc (NASDAQ:MREO) Holdings Decreased by Acuta Capital Partners LLC

Acuta Capital Partners LLC cut its stake in shares of Mereo BioPharma Group plc (NASDAQ:MREO - Free Report) by 38.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 779,308 shares of the company's stock after selling 481,392 shares during the quarter. Mereo BioPharma Group makes up 2.7% of Acuta Capital Partners LLC's portfolio, making the stock its 13th largest holding. Acuta Capital Partners LLC owned about 0.50% of Mereo BioPharma Group worth $2,728,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp acquired a new stake in Mereo BioPharma Group in the 3rd quarter valued at approximately $195,000. Avanza Fonder AB bought a new position in Mereo BioPharma Group during the 4th quarter valued at $69,000. PFG Investments LLC boosted its stake in Mereo BioPharma Group by 132.0% during the 4th quarter. PFG Investments LLC now owns 39,433 shares of the company's stock valued at $138,000 after purchasing an additional 22,433 shares in the last quarter. Golden State Equity Partners increased its position 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 during the period. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Mereo BioPharma Group in the 4th quarter worth $37,000. 62.83% of the stock is currently owned by institutional investors.

Mereo BioPharma Group Stock Up 3.2 %

Shares of NASDAQ MREO traded up $0.08 during mid-day trading on Wednesday, hitting $2.41. 859,977 shares of the company traded hands, compared to its average volume of 1,093,606. Mereo BioPharma Group plc has a 1 year low of $1.58 and a 1 year high of $5.02. The stock has a market capitalization of $382.40 million, a price-to-earnings ratio of -40.10 and a beta of 0.53. The business has a 50 day moving average of $2.34 and a two-hundred day moving average of $3.08.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last posted its quarterly earnings data on Wednesday, March 26th. The company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.03). As a group, research analysts anticipate that Mereo BioPharma Group plc will post -0.03 EPS for the current year.

Analyst Upgrades and Downgrades

MREO has been the subject of several research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $7.00 target price on shares of Mereo BioPharma Group in a research note on Wednesday, April 9th. Cantor Fitzgerald restated an "overweight" rating and set a $7.00 price objective on shares of Mereo BioPharma Group in a research report on Tuesday, March 18th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Mereo BioPharma Group in a research note on Thursday, March 27th. They issued an "overweight" rating and a $7.00 price objective on the stock. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Mereo BioPharma Group presently has a consensus rating of "Buy" and an average target price of $7.71.

About Mereo BioPharma Group

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.