Frazier Life Sciences Management L.P. Increases Stock Holdings in Mereo BioPharma Group plc - Sponsored ADR $MREO

Key Points

• Frazier Life Sciences Management L.P. increased its stake in Mereo BioPharma Group by 53.4%, acquiring 2,722,084 shares, making it one of the company's largest institutional investors with a holding worth $17.6 million.
• Mereo BioPharma Group's shares opened at $1.71, and despite a twelve-month performance range between a low of $1.47 and a high of $4.84, the stock has recently declined by 2.3%.
• Analysts have a generally positive view on Mereo BioPharma Group, with a consensus target price of $7.40, indicating potential for significant upside based on recent ratings.

Frazier Life Sciences Management L.P. grew its holdings in shares of Mereo BioPharma Group plc - Sponsored ADR (NASDAQ:MREO - Free Report) by 53.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,819,863 shares of the company's stock after buying an additional 2,722,084 shares during the quarter. Mereo BioPharma Group makes up 0.8% of Frazier Life Sciences Management L.P.'s portfolio, making the stock its 26th largest position. Frazier Life Sciences Management L.P. owned about 4.92% of Mereo BioPharma Group worth $17,595,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Mereo BioPharma Group by 109.5% during the 1st quarter. GAMMA Investing LLC now owns 18,855 shares of the company's stock worth $42,000 after buying an additional 9,854 shares in the last quarter. Graham Capital Management L.P. lifted its position in Mereo BioPharma Group by 74.7% during the 4th 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 in the last quarter. Avanza Fonder AB lifted its position in Mereo BioPharma Group by 43.5% during the 1st quarter. Avanza Fonder AB now owns 28,121 shares of the company's stock worth $67,000 after buying an additional 8,521 shares in the last quarter. Forefront Analytics LLC lifted its position in Mereo BioPharma Group by 37.1% during the 1st quarter. Forefront Analytics LLC now owns 47,630 shares of the company's stock worth $107,000 after buying an additional 12,877 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Mereo BioPharma Group by 187.9% during the 4th quarter. Ameriprise Financial Inc. now owns 94,456 shares of the company's stock worth $331,000 after buying an additional 61,642 shares in the last quarter. 62.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Mereo BioPharma Group Price Performance

Shares of MREO stock traded up $0.04 during trading hours on Friday, reaching $1.77. 1,012,166 shares of the stock were exchanged, compared to its average volume of 1,145,414. The business's fifty day moving average is $1.89 and its two-hundred day moving average is $2.23. Mereo BioPharma Group plc - Sponsored ADR has a 12-month low of $1.47 and a 12-month high of $4.72. The firm has a market capitalization of $281.43 million, a P/E ratio of -25.29 and a beta of 0.47.

Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last announced its quarterly 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 business had revenue of $0.50 million for the quarter, compared to the consensus estimate of $7.80 million. As a group, equities research analysts predict that Mereo BioPharma Group plc - Sponsored ADR will post -0.03 earnings per share for the current fiscal year.

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.