Adage Capital Partners GP L.L.C. reduced its holdings in Mereo BioPharma Group plc - Sponsored ADR (NASDAQ:MREO - Free Report) by 80.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,700,756 shares of the company's stock after selling 7,014,257 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 1.07% of Mereo BioPharma Group worth $3,827,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the business. GAMMA Investing LLC lifted its holdings 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. Avanza Fonder AB lifted its holdings 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. Graham Capital Management L.P. lifted its holdings 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. Forefront Analytics LLC lifted its holdings 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, BIT Capital GmbH acquired a new position in Mereo BioPharma Group during the 1st quarter worth $227,000. 62.83% of the stock is owned by institutional investors and hedge funds.
Mereo BioPharma Group Stock Performance
NASDAQ MREO traded up $0.05 on Friday, reaching $1.87. The company had a trading volume of 367,863 shares, compared to its average volume of 1,670,870. The firm has a market capitalization of $296.54 million, a price-to-earnings ratio of -26.64 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. The company's fifty day moving average is $1.81 and its 200-day moving average is $2.21.
Mereo BioPharma Group (NASDAQ:MREO - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates 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. On average, research analysts forecast that Mereo BioPharma Group plc - Sponsored ADR will post -0.03 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on MREO shares. JPMorgan Chase & Co. upped their price objective 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 stock a "buy" rating in a report on Thursday, July 10th. Finally, Wall Street Zen upgraded shares of Mereo BioPharma Group from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. According to MarketBeat.com, Mereo BioPharma Group has a consensus rating of "Buy" and an average price target of $7.40.
Check Out Our Latest Report on Mereo BioPharma Group
Mereo BioPharma Group Profile
(
Free Report)
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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