Atle Fund Management AB Has $2.07 Million Stock Position 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 raised its stake in Mereo BioPharma Group plc - Sponsored ADR (NASDAQ:MREO - Free Report) by 96.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 764,901 shares of the company's stock after purchasing an additional 374,901 shares during the quarter. Atle Fund Management AB owned approximately 0.48% of Mereo BioPharma Group worth $2,073,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in 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 last quarter. Avanza Fonder AB lifted its stake 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 last quarter. Forefront Analytics LLC grew its position in shares of Mereo BioPharma Group by 37.1% in the 1st quarter. Forefront Analytics LLC now owns 47,630 shares of the company's stock valued at $107,000 after acquiring an additional 12,877 shares during the period. BIT Capital GmbH acquired a new position in shares of Mereo BioPharma Group during the 1st quarter worth about $227,000. Finally, Ameriprise Financial Inc. raised its holdings in shares of Mereo BioPharma Group by 187.9% in the 4th quarter. Ameriprise Financial Inc. now owns 94,456 shares of the company's stock valued at $331,000 after purchasing an additional 61,642 shares during the period. Institutional investors own 62.83% of the company's stock.

Mereo BioPharma Group Price Performance

Shares of Mereo BioPharma Group stock traded down $0.09 during midday trading on Tuesday, reaching $1.77. The company had a trading volume of 998,148 shares, compared to its average volume of 1,647,875. The stock has a fifty day moving average price of $1.72 and a 200 day moving average price of $2.18. 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 firm has a market cap of $280.64 million, a PE ratio of -25.09 and a beta of 0.47.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.01). The firm had revenue of $0.50 million for the quarter, compared to analysts' expectations of $7.80 million. As a group, sell-side analysts forecast that Mereo BioPharma Group plc - Sponsored ADR will post -0.03 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lifted their price target on Mereo BioPharma Group from $7.00 to $8.00 and gave the stock an "overweight" rating in a report on Monday, August 25th. 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. Finally, Wall Street Zen upgraded Mereo BioPharma Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target 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.