Adage Capital Partners GP L.L.C. trimmed its holdings in Mereo BioPharma Group plc - Sponsored ADR (NASDAQ:MREO - Free Report) by 80.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,700,756 shares of the company's stock after selling 7,014,257 shares during the period. Adage Capital Partners GP L.L.C. owned 1.07% of Mereo BioPharma Group worth $3,827,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently modified their holdings of the company. Ameriprise Financial Inc. increased its stake 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 during the period. GAMMA Investing LLC raised 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 purchasing an additional 9,854 shares in the last quarter. Frazier Life Sciences Management L.P. grew its position in shares of Mereo BioPharma Group by 53.4% during the first 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 during the last quarter. Avanza Fonder AB grew its position in shares of Mereo BioPharma Group by 43.5% during the first quarter. Avanza Fonder AB now owns 28,121 shares of the company's stock worth $67,000 after acquiring an additional 8,521 shares during the last quarter. Finally, Tema Etfs LLC purchased a new position in Mereo BioPharma Group in the 4th quarter valued at $3,117,000. Hedge funds and other institutional investors own 62.83% of the company's stock.
Mereo BioPharma Group Stock Performance
MREO stock traded up $0.03 during trading on Tuesday, hitting $1.82. The stock had a trading volume of 863,235 shares, compared to its average volume of 1,117,597. The company's 50 day moving average price is $1.85 and its two-hundred day moving average price is $2.22. Mereo BioPharma Group plc - Sponsored ADR has a 1-year low of $1.47 and a 1-year high of $4.72. The stock has a market cap of $289.38 million, a price-to-earnings ratio of -26.00 and a beta of 0.47.
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 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, sell-side analysts forecast that Mereo BioPharma Group plc - Sponsored ADR will post -0.03 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Mereo BioPharma Group from $7.00 to $8.00 and gave the stock an "overweight" rating in a research report on Monday, August 25th. 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. Finally, Needham & Company LLC set a $5.00 target price on shares of Mereo BioPharma Group and gave the stock 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 assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $7.40.
Get Our Latest Stock Report on Mereo BioPharma Group
Mereo BioPharma Group Company 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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