Aberdeen Group plc Has $8.21 Million Stock Position in Mereo BioPharma Group plc - Sponsored ADR $MREO

Key Points

• Aberdeen Group plc increased its stake in Mereo BioPharma Group by 38.4%, owning 3,028,872 shares worth approximately $8.21 million as of the latest filing.
• Several institutional investors significantly boosted their holdings in Mereo BioPharma Group, with 62.83% of the stock now owned by institutional investors and hedge funds.
• Mereo BioPharma Group reported quarterly earnings of ($0.02) per share, missing analysts' expectations, and has a current average price target of $7.40 according to market consensus.

Aberdeen Group plc raised its stake in shares of Mereo BioPharma Group plc - Sponsored ADR (NASDAQ:MREO - Free Report) by 38.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,028,872 shares of the company's stock after purchasing an additional 840,518 shares during the quarter. Aberdeen Group plc owned 1.90% of Mereo BioPharma Group worth $8,208,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Atle Fund Management AB boosted its holdings in Mereo BioPharma Group by 96.1% during the second quarter. Atle Fund Management AB now owns 764,901 shares of the company's stock valued at $2,073,000 after purchasing an additional 374,901 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Mereo BioPharma Group by 109.5% in the 1st quarter. GAMMA Investing LLC now owns 18,855 shares of the company's stock worth $42,000 after acquiring an additional 9,854 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Mereo BioPharma Group by 0.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,125,920 shares of the company's stock worth $4,783,000 after acquiring an additional 6,068 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its holdings in shares of Mereo BioPharma Group by 53.4% in the 1st quarter. Frazier Life Sciences Management L.P. now owns 7,819,863 shares of the company's stock worth $17,595,000 after acquiring an additional 2,722,084 shares in the last quarter. Finally, Significant Wealth Partners LLC boosted its holdings in shares of Mereo BioPharma Group by 61.7% in the 2nd quarter. Significant Wealth Partners LLC now owns 22,261 shares of the company's stock worth $60,000 after acquiring an additional 8,490 shares in the last quarter. 62.83% of the stock is owned by institutional investors and hedge funds.

Mereo BioPharma Group Price Performance

MREO stock opened at $2.00 on Friday. The company has a 50 day moving average price of $1.81 and a 200 day moving average price of $2.12. Mereo BioPharma Group plc - Sponsored ADR has a fifty-two week low of $1.47 and a fifty-two week high of $4.72. The stock has a market capitalization of $318 million, a PE ratio of -28.57 and a beta of 0.45.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $0.50 million for the quarter, compared to analysts' expectations of $7.80 million. As a group, equities analysts expect that Mereo BioPharma Group plc - Sponsored ADR will post -0.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MREO shares. JPMorgan Chase & Co. boosted their target price on Mereo BioPharma Group from $7.00 to $8.00 and gave the stock an "overweight" rating in a report on Monday, August 25th. Wall Street Zen raised Mereo BioPharma Group from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Needham & Company LLC set a $5.00 target price on Mereo BioPharma Group and gave the stock a "buy" rating in a report on Thursday, July 10th. Zacks Research downgraded Mereo BioPharma Group from a "hold" rating to a "strong sell" rating in a report on Tuesday. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Mereo BioPharma Group in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.

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