Mereo BioPharma Group plc - Sponsored ADR $MREO Shares Sold by Tema Etfs LLC

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

A number of other large investors have also modified their holdings of the business. Forefront Analytics LLC raised its stake in shares of 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. Tejara Capital Ltd raised its stake in shares of Mereo BioPharma Group by 8.8% during the 1st quarter. Tejara Capital Ltd now owns 2,521,324 shares of the company's stock worth $5,673,000 after buying an additional 204,239 shares in the last quarter. Aberdeen Group plc purchased a new position in shares of Mereo BioPharma Group during the 1st quarter worth approximately $4,924,000. BIT Capital GmbH purchased a new position in shares of Mereo BioPharma Group during the 1st quarter worth approximately $227,000. Finally, Monaco Asset Management SAM raised its stake in shares of Mereo BioPharma Group by 9.2% during the 1st quarter. Monaco Asset Management SAM now owns 416,468 shares of the company's stock worth $937,000 after buying an additional 35,000 shares in the last quarter. 62.83% of the stock is owned by hedge funds and other institutional investors.

Mereo BioPharma Group Price Performance

Mereo BioPharma Group stock traded down $0.04 during mid-day trading on Monday, hitting $1.71. 695,500 shares of the company were exchanged, compared to its average volume of 1,290,103. The business's 50 day simple moving average is $1.99 and its two-hundred day simple moving average is $2.27. The company has a market capitalization of $271.89 million, a P/E ratio of -24.43 and a beta of 0.47. Mereo BioPharma Group plc - Sponsored ADR has a 12-month low of $1.47 and a 12-month high of $4.84.

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Wall Street Zen raised Mereo BioPharma Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. JPMorgan Chase & Co. raised their price objective on Mereo BioPharma Group from $7.00 to $8.00 and gave the company an "overweight" rating in a research note on Monday, August 25th. Finally, Needham & Company LLC set a $5.00 price objective on Mereo BioPharma Group and gave the company a "buy" rating in a research note on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to MarketBeat.com, the stock currently has a consensus 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.