Aberdeen Group plc Buys Shares of 2,188,354 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 stake in Mereo BioPharma Group plc - Sponsored ADR (NASDAQ:MREO - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MREO. Jump Financial LLC acquired a new position in shares of Mereo BioPharma Group during the fourth quarter worth approximately $39,000. GAMMA Investing LLC boosted its position in shares of Mereo BioPharma Group by 109.5% during the first quarter. GAMMA Investing LLC now owns 18,855 shares of the company's stock worth $42,000 after buying an additional 9,854 shares during the period. Avanza Fonder AB boosted its position in shares of Mereo BioPharma Group by 43.5% during the first quarter. Avanza Fonder AB now owns 28,121 shares of the company's stock worth $67,000 after buying an additional 8,521 shares during the period. Virtus ETF Advisers LLC acquired a new position in shares of Mereo BioPharma Group during the fourth quarter worth approximately $67,000. Finally, Graham Capital Management L.P. boosted its position in shares of Mereo BioPharma Group by 74.7% during the fourth quarter. Graham Capital Management L.P. now owns 22,189 shares of the company's stock worth $78,000 after buying an additional 9,490 shares during the period. 62.83% of the stock is currently owned by institutional investors and hedge funds.

Mereo BioPharma Group Stock Performance

Shares of NASDAQ MREO traded up $0.02 during trading on Tuesday, hitting $1.76. The company had a trading volume of 489,241 shares, compared to its average volume of 1,398,481. The company has a market cap of $279.84 million, a P/E ratio of -25.14 and a beta of 0.47. Mereo BioPharma Group plc - Sponsored ADR has a 52 week low of $1.47 and a 52 week high of $4.89. The business's 50-day moving average is $2.05 and its 200 day moving average is $2.30.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded Mereo BioPharma Group from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. JPMorgan Chase & Co. boosted their price objective on Mereo BioPharma Group from $7.00 to $8.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, Needham & Company LLC set a $5.00 target price on Mereo BioPharma Group and gave the stock a "buy" rating in a research report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $7.40.

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.