Tema Etfs LLC Lowers Stock Position in Mereo BioPharma Group plc - Sponsored ADR $MREO

Key Points

• Tema Etfs LLC reduced its holdings in Mereo BioPharma Group by 26.5%, owning 654,666 shares valued at approximately $1.47 million after selling 235,882 shares.
• The company reported a Q2 loss of $0.02 EPS, which missed analysts' expectations, along with revenue of only $0.50 million compared to the $7.80 million forecast.
• Analysts have a consensus rating of "Buy" for the stock, with a target price averaging $7.40, despite recent underperformance.

Tema Etfs LLC cut its holdings in Mereo BioPharma Group plc - Sponsored ADR (NASDAQ:MREO - Free Report) by 26.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 654,666 shares of the company's stock after selling 235,882 shares during the period. Tema Etfs LLC owned about 0.41% of Mereo BioPharma Group worth $1,473,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Janus Henderson Group PLC raised its stake in Mereo BioPharma Group by 38.7% in the fourth quarter. Janus Henderson Group PLC now owns 17,122,563 shares of the company's stock valued at $59,843,000 after buying an additional 4,776,697 shares in the last quarter. Tejara Capital Ltd increased its position in shares of Mereo BioPharma Group by 8.8% during the first quarter. Tejara Capital Ltd now owns 2,521,324 shares of the company's stock worth $5,673,000 after purchasing an additional 204,239 shares in the last quarter. Aberdeen Group plc acquired a new stake in shares of Mereo BioPharma Group during the first quarter worth about $4,924,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Mereo BioPharma Group during the fourth quarter worth about $3,377,000. Finally, Woodline Partners LP acquired a new stake in shares of Mereo BioPharma Group during the fourth quarter worth about $2,166,000. 62.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Mereo BioPharma Group Stock Up 2.6%

MREO stock traded up $0.05 during trading on Tuesday, hitting $1.76. The company had a trading volume of 643,455 shares, compared to its average volume of 1,704,647. The firm has a market cap of $279.05 million, a PE ratio of -25.07 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 $4.80. The firm has a 50-day moving average price of $1.97 and a 200-day moving average price of $2.27.

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 the consensus estimate of ($0.01) by ($0.01). The company had revenue of $0.50 million during the quarter, compared to analysts' expectations of $7.80 million. Sell-side analysts anticipate that Mereo BioPharma Group plc - Sponsored ADR will post -0.03 earnings per share for the current year.

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.