Aberdeen Group plc Acquires New Holdings in Mereo BioPharma Group plc - Sponsored ADR $MREO

Key Points

• Aberdeen Group plc has acquired 2,188,354 shares in Mereo BioPharma Group, valued at approximately $4.9 million, giving it a 1.38% stake in the company as of the most recent quarter.
• Several hedge funds, including BIT Capital GmbH and Monaco Asset Management, have increased their positions in Mereo BioPharma Group, indicating growing institutional interest with 62.83% of stock currently held by institutional investors.
• Despite recent acquisitions, Mereo BioPharma's shares have faced a 0.6% decline, currently trading at $1.63, following a disappointing earnings report where revenue significantly missed analysts' estimates.

Aberdeen Group plc bought a new position in Mereo BioPharma Group plc - Sponsored ADR (NASDAQ:MREO - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,188,354 shares of the company's stock, valued at approximately $4,924,000. Aberdeen Group plc owned 1.38% of Mereo BioPharma Group at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MREO. BIT Capital GmbH purchased a new position in shares of Mereo BioPharma Group in the 1st quarter worth $227,000. Monaco Asset Management SAM lifted its holdings in Mereo BioPharma Group by 9.2% in the first quarter. Monaco Asset Management SAM now owns 416,468 shares of the company's stock valued at $937,000 after acquiring an additional 35,000 shares during the period. Avanza Fonder AB lifted its holdings in Mereo BioPharma Group by 43.5% in the first quarter. Avanza Fonder AB now owns 28,121 shares of the company's stock valued at $67,000 after acquiring an additional 8,521 shares during the period. GAMMA Investing LLC boosted its position in Mereo BioPharma Group by 109.5% in the first quarter. GAMMA Investing LLC now owns 18,855 shares of the company's stock worth $42,000 after purchasing an additional 9,854 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Mereo BioPharma Group in the fourth quarter worth about $3,377,000. 62.83% of the stock is currently owned by hedge funds and other institutional investors.

Mereo BioPharma Group Trading Down 0.6%

Shares of NASDAQ:MREO opened at $1.63 on Thursday. The stock has a 50 day moving average of $2.14 and a 200 day moving average of $2.35. The company has a market cap of $259.17 million, a PE ratio of -23.29 and a beta of 0.47. Mereo BioPharma Group plc - Sponsored ADR has a 12-month low of $1.47 and a 12-month high of $5.02.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The business had revenue of $0.50 million for the quarter, compared to analyst estimates of $7.80 million. Equities research analysts predict that Mereo BioPharma Group plc - Sponsored ADR will post -0.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MREO has been the subject of several research reports. Wall Street Zen raised shares of Mereo BioPharma Group from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Needham & Company LLC set a $5.00 target price on shares of Mereo BioPharma Group and gave the company a "buy" rating in a research report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $7.20.

Mereo BioPharma Group 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.

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