Blue Owl Capital Holdings LP Sells 175,000 Shares of Mereo BioPharma Group plc (NASDAQ:MREO)

Blue Owl Capital Holdings LP decreased its position in Mereo BioPharma Group plc (NASDAQ:MREO - Free Report) by 20.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 672,809 shares of the company's stock after selling 175,000 shares during the period. Mereo BioPharma Group comprises 0.6% of Blue Owl Capital Holdings LP's portfolio, making the stock its 29th biggest position. Blue Owl Capital Holdings LP owned about 0.43% of Mereo BioPharma Group worth $2,355,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new stake in 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 4th quarter valued at approximately $39,000. Sheets Smith Investment Management bought a new stake in Mereo BioPharma Group in the 4th quarter valued at approximately $59,000. Avanza Fonder AB acquired a new position in shares of Mereo BioPharma Group during the 4th quarter worth approximately $69,000. Finally, 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 worth $79,000 after purchasing an additional 16,100 shares during the last quarter. Institutional investors own 62.83% of the company's stock.

Mereo BioPharma Group Stock Performance

MREO traded down $0.07 during trading hours on Tuesday, reaching $2.55. The company's stock had a trading volume of 155,611 shares, compared to its average volume of 1,441,459. Mereo BioPharma Group plc has a 52 week low of $1.58 and a 52 week high of $5.02. The company's 50-day moving average is $2.35 and its 200-day moving average is $3.15. The firm has a market cap of $404.66 million, a PE ratio of -42.33 and a beta of 0.71.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last posted 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). Equities analysts anticipate that Mereo BioPharma Group plc will post -0.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. JPMorgan Chase & Co. assumed coverage on Mereo BioPharma Group in a research report on Thursday, March 27th. They set an "overweight" rating and a $7.00 price target on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $7.00 price target on shares of Mereo BioPharma Group in a research report on Tuesday, March 18th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $7.00 price target on shares of Mereo BioPharma Group in a research report on Wednesday, April 9th. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target 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.