Atle Fund Management AB Has $2.07 Million Stock Holdings in Mereo BioPharma Group plc - Sponsored ADR $MREO

Key Points

• Atle Fund Management AB increased its stake in Mereo BioPharma Group by 96.1% in the second quarter, owning about 764,901 shares worth $2.07 million by the end of the reporting period.
• Multiple institutional investors have also raised their holdings in Mereo BioPharma Group, including Ameriprise Financial Inc. which boosted its shares by 187.9% during the fourth quarter.
• Analysts have a consensus rating of "Buy" for Mereo BioPharma Group, with a target price of $7.40, reflecting optimism about the company's prospects despite a reported earnings miss.

Atle Fund Management AB grew its position in shares of Mereo BioPharma Group plc - Sponsored ADR (NASDAQ:MREO - Free Report) by 96.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 764,901 shares of the company's stock after purchasing an additional 374,901 shares during the quarter. Atle Fund Management AB owned 0.48% of Mereo BioPharma Group worth $2,073,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Frazier Life Sciences Management L.P. boosted its stake in shares of Mereo BioPharma Group by 53.4% during 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. 683 Capital Management LLC boosted its position in shares of Mereo BioPharma Group by 1.9% in the first quarter. 683 Capital Management LLC now owns 4,635,000 shares of the company's stock worth $10,429,000 after buying an additional 85,000 shares during the period. Tejara Capital Ltd boosted its position in shares of Mereo BioPharma Group by 8.8% in the first quarter. Tejara Capital Ltd now owns 2,521,324 shares of the company's stock worth $5,673,000 after buying an additional 204,239 shares during the period. Aberdeen Group plc acquired a new stake in shares of Mereo BioPharma Group in the first quarter worth $4,924,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Mereo BioPharma Group by 0.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,125,920 shares of the company's stock worth $4,783,000 after buying an additional 6,068 shares during the period. 62.83% of the stock is owned by institutional investors.

Mereo BioPharma Group Stock Performance

NASDAQ MREO traded down $0.03 during trading on Friday, reaching $1.74. 606,131 shares of the company traded hands, compared to its average volume of 887,442. The stock's 50 day moving average price is $1.72 and its two-hundred day moving average price is $2.18. The company has a market cap of $276.66 million, a price-to-earnings ratio of -24.86 and a beta of 0.47. Mereo BioPharma Group plc - Sponsored ADR has a 1-year low of $1.47 and a 1-year high of $4.72.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on MREO shares. JPMorgan Chase & Co. upped their price objective on shares of Mereo BioPharma Group from $7.00 to $8.00 and gave the company an "overweight" rating in a research note on Monday, August 25th. Wall Street Zen raised Mereo BioPharma Group from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, Needham & Company LLC set a $5.00 price objective on Mereo BioPharma Group and gave the company a "buy" rating in a research report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $7.40.

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.